Delhi/Nicosia, 16 June (H.S.): Prime Minister Narendra Modi commenced his five-day visit to Cyprus, marking the first visit by an Indian Prime Minister in over 20 years, where he was welcomed by President Nikos Christodoulides. The visit featured his address at the India-Cyprus CEO Forum in Limassol, emphasizing India's role as a hub for digital innovation and economic opportunity. He noted ongoing efforts with the European Union to finalize a free trade agreement by year-end.

Modi highlighted India's transformation over the past decade, particularly in digital payments and infrastructure, stating, It has happened after six decades that the same government has been elected for the third consecutive time. He pointed out India's significant digital growth, citing that 50% of the world's digital transactions occur through UPI, with potential inclusion of Cyprus.

He announced over USD 100 billion annual investment in infrastructure, focusing on maritime development, shipbuilding, and civil aviation, along with a new shipbuilding policy. Modi praised India's startup ecosystem, mentioning over 100,000 startups driving innovation and selling solutions.

He welcomed the formation of the India, Cyprus, and Greece Business and Investment Council as a strong platform for trilateral cooperation. He assured business leaders that their ideas would be acted upon. Moreover, he reported cooperation between the Cyprus Stock Exchange and India's National Stock Exchange in GIFT City, Gujarat, and encouraged Cypriot investors to explore opportunities in India.

Earlier, PM Modi also shared a post on X, saying, Strengthening business ties! President Nikos Christodoulides and I met with top CEOs, with the aim of strengthening trade ties between India and Cyprus. Sectors such as innovation, energy, technology and others offer huge potential. I also spoke about India's reform trajectory over the past decade.

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Hindusthan Samachar / Jun Sarkar