Leaders welcomed bilateral Cybersecurity Dialogue
Cyprus President Nikos Christodoulides and Prime Minister Narendra Modi have agreed to deepen defence and security cooperation, including through collaboration between their respective defence industries, with a special focus on cybersecurity and emerging technologies.
The leaders welcomed the signing of the MoU between Cyprus Defence & Space Industries Cluster (CyDSIC) and Society of Indian Defence Manufacturers (SIDM) during President Christodoulides visit to India on 20-23 May.
Welcoming the India-Cyprus Bilateral Defence Cooperation Programme signed in February 2026, the two Leaders underscored the potential for significant cooperation in the defence sector. They also welcomed the signing of the Technical Arrangement for the establishment of Official Coordination and Cooperation on Search and Rescue (SAR) matters. These will provide an institutional framework for promoting defence industrial cooperation and technology partnership, building on the momentum of the India-EU Defence and Security Partnership signed on 27 January 2026, as well as facilitate exchanges, training and capacity building.
The Leaders welcomed the conclusion of the Roadmap for Bilateral Defence Cooperation between the Ministries of Defence of the two countries for the period 2026-2031.
They reaffirmed their commitment to delivering tangible outcomes under the India-Cyprus Joint Action Plan 2025-2029 and to further strengthening India-Cyprus cooperation as a dynamic pillar of the broader India-EU strategic partnership.
President Nikos Christodoulides paid a State Visit to India from 20-23 May 2026. The visit holds particular significance as it is taking place during the Cyprus’ Presidency of the Council of the European Union.
Prime Minister Modi visited Cyprus in June 2025, when had laid the foundation for a strategic partnership, and marks the transition of India-Cyprus relations into a results-oriented and implementation-driven phase.
The two leaders welcomed the regular contact at the high political level as an important aspect of the India-Cyprus Comprehensive Partnership. They welcomed the significant progress made in the implementation of the India-Cyprus Joint Action Plan 2025-2029, and agreed to commemorate the 65th anniversary of establishment of diplomatic relations between the two countries in 2027 through the organization of special events.
Both leaders noted the ongoing close cooperation between relevant agencies of both countries, especially to address new and emerging threats in the cyberspace. In this context, the Leaders welcomed the establishment of Cybersecurity Dialogue between the two countries.
India and Cyprus being maritime nations with deep-rooted naval traditions, both Leaders encouraged expanding cooperation in the maritime domain, including regular port calls by Indian naval vessels and exploring opportunities for joint maritime training and exercises to enhance maritime domain awareness and regional security.
Both Leaders emphasized that significant potential exists for further expanding bilateral trade, investment and technology partnerships. They agreed to enhance cooperation on building trusted, reliable and resilient supply chains, as well as safeguarding their economic security.
The Leaders welcomed the sustained growth of investments from Cyprus into India, making Cyprus an important source of investments into India. They reaffirmed their commitment to fully realizing the untapped economic potential, including through startups, digitalization, AI and innovation-driven enterprises.
They encouraged the business community in both countries to actively explore trade and investment opportunities in priority sectors including, inter alia, financial services, maritime, connectivity, logistics, clean and green energy, waste management, space, science & technology, and research and innovation. The Leaders also highlighted the opportunities that will arise through the implementation of the historic India-EU Free Trade Agreement (FTA) concluded earlier this year.
Through Fintech connectivity, not only cross border transactions but also cross border connections will be strengthened. The Leaders noted the deepening of economic engagement in the financial sector, including the MoU signed between NIPL and Eurobank Cyprus in 2025. They also welcomed the establishment of a framework for interoperability of India’s Unified Payments Interface (UPI) with Target Instant Payment Settlement System (TIPS System) of the European Central Bank (ECB), which will facilitate seamless cross-border transactions, benefiting both tourists and businesses of both the countries.
The two Leaders also welcomed the growing momentum in trilateral and bilateral economic cooperation. In this context, they appreciated the establishment of the India-Greece-Cyprus (IGC) Business and Investment Council as an important platform for strengthening business-to-business linkages, promoting investment flows, and fostering collaboration among the three countries.
Building upon the momentum generated by the India-Cyprus investors roundtable held in Limassol in June 2025, an India-Cyprus Business Forum was organised in Mumbai during the visit which aimed at further strengthening the bilateral economic and commercial partnership as well as fostering new avenues of collaboration. The Leaders welcomed the signing of B2B MoUs on the sidelines of the Business Forum in Mumbai.
The Leaders welcomed continued collaboration between the startups, unicorns, innovation ecosystems and venture capital networks of the two countries. In this context, they welcomed the signing of an MoU on Innovation & Technology which would provide a framework for exchanges between startups, incubators, accelerators and the innovation agencies of both countries.
The Leaders noted the importance of maritime and shipping cooperation in strengthening trade and connectivity between the two countries, and for connecting the Indo-Pacific to Europe through trusted maritime partnerships. Recognizing Cyprus’ role as a gateway to Europe and the potential to serve as a regional hub for transshipment, storage, distribution, and logistics, they encouraged strengthening of maritime cooperation through joint ventures involving Cyprus-based and Indian maritime service providers for mutual benefit. In this context, both Leaders agreed to take forward the positive momentum in maritime cooperation under the existing Bilateral Agreement on Merchant Shipping.
Considering the strong complementarities between Cyprus’ globally recognized maritime services ecosystem and India’s rapidly expanding maritime and port infrastructure capabilities, the two Leaders agreed to strengthen cooperation in the maritime sector as a strategic pillar of the bilateral partnership.
In this context, they acknowledged the potential of Cyprus to serve as a European maritime gateway and operational base for Indian shipping interests and welcomed closer engagement between Indian maritime stakeholders and Cyprus’ shipping and ship management community. The two sides agreed to promote cooperation in maritime services, port connectivity, logistics, maritime training and skills development, as well as green shipping and regulatory compliance, with a view to generating practical and mutually beneficial outcomes in the near term.
The Leaders also welcomed the signing of the MoU between the Institute of Chartered Accountants of India (ICAI) and the Institute of Certified Public Accountants of Cyprus (ICPAC) which would provide a good opportunity for young accountants to contribute to developing professional and regulatory standards, exchanging best practices in accounting and auditing, and enhancing mutual recognition and employability in the fields of finance and business services.
Welcoming the signing of the MoU on Comprehensive Framework of Cooperation on Mobility and the launch of a pilot European Union Legal Gateway Office in India, the Leaders noted its role in promoting legal pathways for movement of professionals, skilled workforce and students and strengthening people-to-people ties between India and the EU.
Both Leaders recognized the India–Middle East–Europe Economic Corridor’s (IMEEC) transformational potential in reshaping and promoting global trade, connectivity and prosperity. They reiterated their shared commitment to promoting stability in the Eastern Mediterranean and the wider Middle East and emphasized the importance of fostering deeper engagement and corridors of interconnection from India through the wider Middle East to Europe. They discussed the establishment of a Bilateral Connectivity Dialogue.
Both Leaders expressed satisfaction at the deepening of India–Cyprus relations and in order to take forward the cooperation under the India-Cyprus Strategic Partnership, they directed both sides to work for the timely implementation of the India-Cyprus Joint Action Plan 2025-2029. The Leaders agreed to maintain regular interaction building upon the shared spirit of mutual respect and collaboration. Fiinews.com
