New Delhi, May 22, 2026 — India and Cyprus agreed to upgrade their bilateral Comprehensive Partnership to a Strategic Partnership during the State Visit of Cypriot President Nikos Christodoulides to India from May 20 to May 23. The announcement, contained in a joint statement after Mr. Christodoulides met Prime Minister Narendra Modi, emphasizes expanded trade, investment, maritime cooperation and closer technology links.
The visit, which coincided with Cyprus’ Presidency of the Council of the European Union, was described by both sides as a move into a results-oriented and implementation-driven phase of relations. Leaders highlighted the potential to grow bilateral trade and investment, deepen technology partnerships, and build trusted, resilient supply chains.
Both countries welcomed sustained Cypriot investment into India and encouraged business engagement across sectors including financial services, maritime services, connectivity, logistics, clean and green energy, space, science and technology, and innovation. They noted opportunities arising from the India-EU Free Trade Agreement, concluded at the India-EU Summit on January 27, 2026, and called for its early signing and timely implementation.
Maritime cooperation was identified as a strategic pillar of the new partnership. The joint statement recognized Cyprus as a potential European gateway and regional hub for transhipment, storage, distribution and logistics, and supported joint ventures to strengthen port connectivity and operational bases for Indian shipping interests. Cooperation is expected to cover maritime services, logistics, maritime training, green shipping initiatives and regulatory compliance.
On financial connectivity, the leaders referenced a 2025 MoU between India Infrastructure Development Finance company NIPL and Eurobank Cyprus, and welcomed progress toward interoperability between India’s Unified Payments Interface (UPI) and the European Central Bank’s Target Instant Payment Settlement (TIPS) system. That framework aims to facilitate seamless cross-border payments for tourists and businesses.
To boost commercial ties, the two governments supported the recently established India-Greece-Cyprus Business and Investment Council as a platform for business-to-business linkages. An India-Cyprus Business Forum in Mumbai during the visit produced several B2B MoUs, and the countries signed a separate MoU on Innovation and Technology to promote exchanges among startups, incubators and innovation agencies.
On broader external relations, both leaders hailed the India-EU Free Trade Agreement as a landmark development and endorsed the Joint India-EU Comprehensive Strategic Agenda for 2030. They agreed to intensify work within the India-EU Trade and Technology Council, with a ministerial meeting scheduled for July. The signing of an India-EU Security and Defence Partnership was also noted as a step to deepen cooperation in maritime security, defence industry collaboration, cyber security and counter-terrorism.
The joint statement highlighted growing cooperation in disaster resilience and said Cyprus has expressed interest in joining the Coalition for Disaster Resilient Infrastructure (CDRI). Both sides agreed to mark the 65th anniversary of diplomatic relations in 2027.
Leaders reaffirmed a shared vision of Cyprus and India as strategic partners and connectors between Europe, the Mediterranean and the Indo-Pacific, committed to advancing peace, stability, connectivity and prosperity.
