Cyprus looks to double FDI into India over next 5 years, says PM Modi
This story was originally published at 15:37 IST on 22 May 2026
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NEW DELHI – Prime Minister Narendra Modi Friday said that India is looking ahead to Cyprus doubling its investment into India over the next five years. Addressing a joint press conference with President Nikos Christodoulides of Cyprus, Modi said that the two countries have decided to elevate their ties to a strategic partnership.
Modi noted that Cyprus was one of India's top 10 investors. "In the last decade, investment from Cyprus to India has nearly doubled. Trust between the two countries has increased," he said.
"The India-European Union Free Trade Agreement has created many new possibilities. Taking advantage of this, we aim to double this investment again in the next five years," the prime minister added.
Cumulative foreign direct investment into equity from Cyprus to India starting April 2000 reached around $15.76 billion by early 2026. These investments are in services, computer and software, auto manufacture, manufacturing industries, real estate, cargo handling, construction, shipping, and pharmaceuticals.
Modi said that defence and security cooperation is an "important pillar" of the two countries' relations, and military exchanges and training have increased over the years. The two nations will continue to work together in the Indo-Pacific Oceans Initiative and the India Middle East Economic Corridor. End
US$1 = INR 95.93
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Asim Khan
Edited by Akul Nishant Akhoury
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