**Executive Summary**
On May 22, 2026, the Prime Minister of India and the President of the Republic of Cyprus formally elevated their bilateral relationship to a Strategic Partnership. The meeting focused on doubling bilateral investments within five years, enhancing defense cooperation, and signing new agreements in culture and higher education. Key future actions include the development of a Migration and Mobility Partnership and a Social Security Agreement to support professionals and students.
**Key Points / Main Content**
**Economic and Strategic Partnership**
* **Strategic Elevation:** The bilateral relationship is now classified as a Strategic Partnership to facilitate deeper cooperation in trade and investment.
* **Investment Goals:** Building on Cyprus’s status as a top 10 investor in India, both nations aim to double investment levels over the next five years.
* **Sectoral Expansion:** New opportunities are identified for Indian companies in Cyprus’s infrastructure, energy, and agriculture sectors.
* **Financial Hubs:** A joint commitment exists to transform GIFT City into a global financial services hub and connect the start-up ecosystems of both nations.
**Defense and Security**
* **Security Pillars:** Cooperation will be strengthened in cyber security, maritime security, and counter-terrorism.
* **Regional Initiatives:** Both countries will work together on the Indo-Pacific Oceans Initiative and the India-Middle East-Europe Economic Corridor.
* **Military Exchange:** The nations will continue to expand existing military exchanges and training cooperation.
**People-to-People Ties and Education**
* **Mobility Agreements:** Plans are underway to establish a comprehensive Migration and Mobility Partnership and a Social Security Agreement.
* **Cultural and Educational Exchange:** New agreements have been signed to enhance research cooperation and cultural exchange between the two countries.
**Global Diplomacy**
* **Shared Values:** The partnership is rooted in democracy, the rule of law, and respect for the sovereignty and territorial integrity of all nations.
* **Conflict Resolution:** Both nations expressed support for early peace efforts in Ukraine and West Asia and the urgent reform of global institutions.
**Impact Analysis**
**Indian and Cypriot Businesses**
**Impact**
Businesses gain expanded access to markets in infrastructure, energy, shipping, and agriculture. The connection of financial hubs and the India-EU Free Trade Agreement create a more favorable investment climate.
**Action Required**
Identify specific investment opportunities in the highlighted sectors and utilize the burgeoning financial ecosystem in GIFT City.
**Defense and Security Agencies**
**Impact**
Agencies will see increased coordination regarding maritime and cyber threats, alongside participation in large-scale international connectivity corridors.
**Action Required**
Develop frameworks for enhanced information sharing and joint training exercises in maritime and cyber security.
**Indian Professionals and Students in Cyprus**
**Impact**
This group will benefit from improved legal frameworks regarding mobility and future social security protections, as well as deeper research cooperation in higher education.
**Action Required**
Stay informed on the finalized terms of the Migration and Mobility Partnership and the Social Security Agreement to ensure compliance and access to benefits.
Key Entities Referenced
Indo-Pacific Oceans Initiative: A regional maritime initiative through which both countries intend to collaborate on security and connectivity.
India-Cyprus Strategic Partnership: The elevated bilateral framework established to deepen cooperation in trade, investment, defense, and security between the two nations.
India–European Union Free Trade Agreement: A significant trade policy framework cited as a primary driver for expanding market access and doubling investments between India and Cyprus.
GIFT City: The global financial and services hub in India targeted for joint transformation and enhanced connectivity with Cyprus's innovation ecosystems.
India-Middle East-Europe Economic Corridor: A major international connectivity initiative identified for joint cooperation to link regional economies.
Prime Minister's Office
English Translation of Prime Minister's Press
Statement during the Joint Press Statement with
the President of the Republic of Cyprus
Posted On: 22 MAY 2026 3:14PM by PIB Delhi
Your Excellency, President of Cyprus
Delegates from both countries,
Friends from the media,
Namaskar!
Kalimera
It is a great pleasure to welcome the President of Cyprus and his delegation to India. Mr. President, last
year you gave us a very warm welcome in Cyprus. As a special gesture of friendship towards India, you
also honoured me with Cyprus’s highest honour.
During your entire visit, we truly felt your warmth, friendship, and strong connection with India. Today,
your visit to India marks another important milestone in our shared journey.
Friends,
The friendship between India and Cyprus is both strong and futuristic. A shared belief in values such as
democracy and the rule of law forms the foundation of our partnership. We respect the sovereignty and
territorial integrity of all nations. India is fully committed to these principles and will continue to remain
so.
Today, as India and Europe step into a new golden era of relations, Cyprus is not only serving as the
President of the Council of the European Union but is also emerging as an important investment gateway
connecting India with all of Europe.
Friends,
Cyprus is among India’s top 10 investors, and over the past decade, investments from Cyprus into India
have nearly doubled. The trust between our two countries has grown even stronger. The India–European
Union Free Trade Agreement has also created many new opportunities. Building on this momentum, we
aim to double these investments again over the next five years. To achieve this shared vision, today we are
elevating our trusted relationship to a Strategic Partnership.
Friends,This Strategic Partnership between India and Cyprus will create new opportunities for trade and
investment by connecting the financial and services hubs of both countries. It will open new doors for
Indian companies in Cyprus’s infrastructure, energy, and agriculture sectors, while also encouraging
greater investment in India’s fast-growing shipping and maritime industries.
Together with Cyprus, we will accelerate the vision of transforming GIFT City into a global financial and
services hub, and enhance connectivity between the innovation and start-up ecosystems of both countries.
Friends,
Defence and security cooperation is an important pillar of our relationship. We are pleased that military
exchanges and training cooperation between our two countries have grown in recent years. Today, we have
also decided to further strengthen our partnership in cyber security, maritime security, and counter-
terrorism. Moreover, we will also work together to ensure connectivity through key initiatives such as the
Indo-Pacific Oceans Initiative and the India-Middle East-Europe Economic Corridor.
Friends,
Indian professionals and students living in Cyprus are further strengthening the people-to-people ties
between our two countries. To deepen these connections further, we have agreed to work on a
comprehensive Migration and Mobility Partnership, along with a Social Security Agreement, in the near
future.
Today, we are also signing agreements on culture and higher education, which will deepen cultural
exchange and research cooperation between the two countries.
Friends,
Today, we also discussed important global issues. Whether it is Ukraine or West Asia, we will continue to
support early peace efforts and the swift end of conflicts. We also agree that reforming global institutions
is both urgent and essential to address the growing challenges facing the world.
Your Excellency,
The bond between India and Cyprus has remained strong through the test of time. Today, with the
establishment of the India–Cyprus Strategic Partnership, we are ready to take our relationship to new
heights with renewed energy, ambition, and momentum.
Let us work together to transform our relationship from cooperation to co-creation, and from partnership
to shared prosperity.
India and Cyprus—together, will build a secure, prosperous, and better future.
Thank you very much.
DISCLAIMER -This is the approximate translation of Prime Minister's remarks. Original remarks
were delivered in Hindi.***
MJPS/SS/PRK
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