The World Trade Center (WTC) Mumbai has signed MoUs with Invest Cyprus and WTC Cyprus to boost bilateral trade and investment opportunities, reinforcing Cyprus’ position as a strategic European gateway for Indian businesses. The agreements were signed during the visit of a high-level Cyprus government and business delegation, in collaboration with the All India Association of Industries (AIAI).
The partnership will open new avenues in technology, research, shipping, fintech, and innovation, strengthening the six-decade-long ties between India and Cyprus.
The session was attended by key dignitaries including H.E. Mr. Evagoras Vryonides, High Commissioner of Cyprus to India; Mr. Demetris Skourides, Chief Scientist for Research, Innovation, and Technology, Republic of Cyprus; Mr. Marios Tannousis, CEO, Invest Cyprus; Mr. Nicos Chimarides, IGC Representative and PwC Partner, Tax & Legal; Mr. Panayiotis Chrysotomou, IGC Representative, Eurobank; Mr. Antony Georgaki, Head of Operations, WTC Cyprus; and Dr. Vijay Kalantri, Chairman of WTC Mumbai and President of AIAI.
Dr. Vijay Kalantri highlighted Cyprus’ pivotal role in trade, noting that collaborations in fintech and innovation could drive bilateral trade to surpass USD 1 billion in the future.
H.E. Mr. Evagoras Vryonides underscored the significance of the upcoming India–EU FTA negotiations in October 2025, which will enhance access for Indian businesses to European markets via Cyprus.
Mr. Demetris Skourides showcased Cyprus’ position as an emerging hub for research and technology, ranking 25th in the Global Innovation Index, while Mr. Marios Tannousis highlighted the investor-friendly ecosystem, including Start-up Visas, attractive tax policies, and a strong regulatory framework.
Mr. Panayiotis Chrysotomou emphasized the role of Cyprus in the India-Greece-Cyprus Business & Investment Council and as a crucial node in the IMEC trade, logistics, and data corridor, strengthening trilateral cooperation.
Mr. Antony Georgaki reiterated WTC Cyprus’ mission to connect Cypriot businesses with global markets, helping international enterprises leverage Cyprus as a base for EU access.
The signing of the MoUs signifies a commitment to expanding opportunities and building long-term synergies between India and Cyprus in trade, innovation, and investment.
