CII, Cyprus chamber sign MoU to boost investment and defence collaboration

The Confederation of Indian Industry (CII) on Thursday signed a strategic memorandum of understanding (MoU) with the Cyprus Chamber of Commerce and Industry (CCCI) to strengthen trade, investment and technology collaboration between India and Cyprus.

The agreement was signed at the Cyprus–India Business Forum in the presence of Nikos Christodoulides, President of the Republic of Cyprus, and Devendra Fadnavis, along with senior government and industry representatives from both countries.

According to CII, the partnership aims to deepen economic engagement through investment promotion, joint ventures, business delegations, trade fairs and sector-focused collaborations. The industry body said the agreement would help create stronger business linkages across sectors such as technology, manufacturing, logistics, defence, digital innovation and services.

B. Thiagarajan, Chairman, CII National Committee on Skill and Livelihood Centres, said the CII–CCCI partnership would open new avenues for bilateral trade and investment while accelerating collaboration in emerging sectors.

Defence cooperation between two countries 

In a parallel development, the Society of Indian Defence Manufacturers (SIDM) signed an MoU with the Cyprus Defence & Space Industry Cluster (CyDSIC) to enhance cooperation in defence manufacturing, aerospace innovation, dual-use technologies and industrial partnerships.

The agreements are expected to strengthen industry exchanges and technology partnerships while creating new opportunities for cooperation in strategic and defence-related sectors between the two countries.

Cyprus announced a trade office in Mumbai 

Cyprus also announced the launch of a trade office in Mumbai to support cross-border business partnerships.

The visiting President said the ‘Mumbai Trade Centre’ would begin operations from September 1, 2026, as part of efforts to strengthen bilateral trade and investment ties between India and Cyprus.

Speaking at the Cyprus–India Business Forum, Christodoulides said Cyprus is well positioned to act as a base for Indian firms seeking access not only to the European Union market, but also to the Eastern Mediterranean, Gulf and North African regions through a stable European platform.

"The Cyprus Trade Center... is designed to function as a hub for business connectivity, helping Indian companies explore opportunities in Cyprus and across Europe, encouraging partnership with Cypriot enterprises, and facilitating access to the European Union through a stable, transparent and fully European Union-compliant business environment," he said.