India-Cyprus Trade: Trade touched the height of $150 million, know the meaning of Prime Minister’s historic visit

India Cyprus bilateral trade 150 million: The strategic and economic relations between India and Cyprus have entered a new golden era, with bilateral trade now crossing $150 million. This intensity between the two countries is not limited only to trade, but is also continuously strengthening at the diplomatic and cultural levels since 1962.

Prime Minister Narendra Modi’s historic visit in 2025 has opened new doors for investment and fintech cooperation between the two countries, ending a long gap of 23 years. Cyprus, located in the Mediterranean Sea, is not only a trusted friend of India, but is also emerging as an important bridge between the European Union and West Asia.

Historic visit and honor

In June 2025, Prime Minister Modi visited Cyprus, the first visit by an Indian Prime Minister in the last two decades. During this time he was awarded Cyprus’ highest civilian honour, the Grand Cross of the Order of Makarios III; Was awarded. This honor given by President Nicos Christodoulides is a symbol of the shared values ​​and unwavering trust of both the countries.

trade and export structure

Current trade between India and Cyprus reaches $150 million, with India majorly exporting pharmaceuticals and textiles. The list of exports also includes iron, steel, machinery and IT services which are strengthening the economy of Cyprus. On the other hand, India imports specialized industrial products, chemicals and medical equipment from Cyprus.

Fintech and digital revolution

During the 2025 visit, India and Cyprus signed an agreement to launch UPI to simplify digital payments. This initiative will facilitate cross border transactions for the tourist and business communities and reduce banking costs. The deal makes Cyprus the second European country after France to adopt UPI.

Strategic and political support

Cyprus has always supported India unconditionally in international forums on sensitive issues like terrorism and Jammu and Kashmir. India has also staunchly supported the territorial integrity and unity of Cyprus after the 1974 invasion by Turkey. Both countries protect each other’s interests in organizations such as the United Nations and the Commonwealth.

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Investment and the way to the future

Cyprus is one of the top 10 foreign direct investment (FDI) sources for India, with around $12 billion invested so far. ‘Joint Action Plan’ prepared for 2025-2029; Focused on further enhancing cooperation in shipping, renewable energy and logistics sectors. The plan to establish direct air connectivity in the coming years will further deepen tourism and people-to-people ties.