Cyprus is opening doors for Indian investment in the EU

Cyprus is fast becoming a key entry point for Indian investments into Europe. Greece and Cyprus have been working closely with India to strengthen their ties on various fronts.

A recent meeting held in Cyprus brought to light the prospect of including India in the partnership between Cyprus, Greece, and Israel. All three nations agreed to take the necessary steps to realize this opportunity.

India, home to a staggering population of over 1.4 billion, with a significant majority under the age of 50, is witnessing remarkable economic growth at a rate of approximately 6-7% per year. Should this growth persist, experts predict that India's economy could rival that of the United States by the middle of this century.

Indian Prime Minister Narendra Modi's visit to Greece holds great significance as it could potentially facilitate Indian investments in Europe, with Cyprus playing a central role in this attempt.

During his visit, Prime Minister Modi had a working lunch with Greek Prime Minister Kyriakos Mitsotakis in August 2023, attended by prominent business figures, including Mr. Phocion Karavia, the CEO of Eurobank Group.

Mr. Karavia revealed Eurobank Group's plans to establish an office in India, intended to provide essential support for Indian companies seeking to conduct business in Greece and Cyprus. This office would essentially serve as a gateway for business activities within the European Union.

This development carries significant implications for both economies. Given India's current economic size and the projections by experts, which anticipate it becoming the world's third-largest economy by 2030, this partnership assumes immense importance.

Eurobank Group is well-prepared for this endeavor. It has been actively preparing for entry into the Indian market, establishing communication channels with Chambers of Commerce, and acquiring the necessary expertise to facilitate this ambitious venture.

Furthermore, it's worth noting that Eurobank Group recognizes the importance of Cyprus in its international plans, which explains its intent to increase its involvement in Greek banks.

As Cyprus positions itself as the conduit for Indian investments into the EU, this partnership heralds a promising era of international economic cooperation. This collaboration has the potential to reshape the global economic landscape and is thus a noteworthy development for the business world.