PM Modi Showcases India’s Economic Momentum at India-Cyprus CEO Forum
In a landmark address at the India-Cyprus CEO Forum in Limassol, Prime Minister Narendra Modi pitched India as one of the world’s most promising investment destinations, emphasizing its rise to become the fifth-largest economy globally. With clarity and confidence, Modi declared that India is on a fast track to becoming the third-largest economy, driven by structural reforms, digital transformation, and stable governance.
Speaking to a distinguished audience of Cypriot and Indian business leaders, PM Modi described India as a global growth engine, and pointed to Cyprus as a strategic partner and gateway to Europe. He praised the mutual business relationships already in place but made it clear that the true economic potential between India and Cyprus is yet to be realized.
India’s Economic Rise and Cyprus’s Strategic Role
#WATCH | Limassol, Cyprus: Addressing the India-Cyprus CEO Forum, PM Narendra Modi says, "...In the last one decade, India has become the fifth largest economy of the world and in the very near future, we are moving very fast towards becoming the third largest economy of the… pic.twitter.com/fEaSnS7lgC
— ANI (@ANI) June 15, 2025
During his speech, PM Modi highlighted the incredible strides India has made in the past decade.
“In the last ten years, India has become the fifth-largest economy in the world. Very soon, we are moving toward becoming the third-largest economy,” he said.
Modi emphasized that India is one of the fastest-growing emerging economies, offering a robust investment climate supported by policy stability and long-term vision. He underlined the government’s commitment to creating a predictable, transparent, and innovation-driven business environment.
Shifting focus to Cyprus, Modi hailed the island nation as India’s trusted economic partner. He acknowledged significant Cypriot investments in India over the years and welcomed the presence of Indian companies doing business in Cyprus.
“In many ways, Cyprus is seen as a gateway to Europe for Indian businesses,” he noted, inviting companies from both sides to deepen engagement and explore new sectors for collaboration—including technology, tourism, fintech, and energy.
Unlocking the Real Potential of India–Cyprus Trade Relations
PM Modi noted that the current bilateral trade between India and Cyprus stands at $150 million, but made it clear that the actual potential far exceeds this figure.
“The real potential of our relationship is much more than this,” he said, pointing to opportunities for expansion in high-value sectors.
Calling for more CEO-to-CEO connections, Modi urged business leaders to work together to identify synergies and remove trade bottlenecks. He emphasized the importance of ease of doing business, strong financial frameworks, and the role of innovation in shaping the future of India–Cyprus economic relations.
As India expands its economic footprint in the European Union, Cyprus emerges as a natural ally—a democratic nation with strategic geography and pro-investment policies. PM Modi’s address serves as a strong signal of India’s intent to deepen ties not just diplomatically, but economically and commercially as well.
