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There is fresh momentum in Cyprus-India commercial relations, thanks to the free trade agreement recently completed between the European Union and India. The deal promises lower tariffs on European products and smoother access to the vast Indian market.
Key sectors set to benefit include technology, services, defense, agriculture, and shipping, providing new opportunities for closer collaboration between Cypriot and Indian businesses.
Cyprus and India already enjoy strong diplomatic and business ties, which have encouraged Indian companies to establish a presence on the island. Within the framework of the India-Middle East-Europe Corridor (IMEC), Cyprus aims to serve as a gateway for Indian companies into the EU and the Middle East. Both countries’ business communities are eyeing mutual investments, particularly in digital innovation and hospitality. Other promising sectors for investment include defense technology, resource management, infrastructure, agriculture, film, and cybersecurity.
These ambitions will be highlighted when Cyprus President Nikos Christodoulides visits India officially in May, further cementing bilateral ties.