Cyprus to Host Trade Hub for Indian Firms

Why this is here: Maharashtra’s power generation capacity is nearing 93 gigawatts, with roughly 52 percent projected to come from renewable sources.

Cyprus President Nikos Christodoulides announced plans in Mumbai, India to establish a trade center for Indian companies. The center, slated to open September 1, 2026, aims to facilitate partnerships and access to European markets. Christodoulides presented Cyprus as a stable, EU-compliant base for Indian businesses expanding to Europe, the Eastern Mediterranean, and North Africa.

He highlighted Cyprus’s 15 percent corporate income tax rate and its network of over 65 double taxation treaties. Maharashtra Chief Minister Devendra Fadnavis invited Cypriot businesses to invest in his state, emphasizing its expanding ports and renewable energy sector. Indian companies currently use Cyprus as a gateway for technology, financial services, and digital innovation.

However, the success of this venture depends on establishing direct air links between the two countries and fully realizing the potential of maritime cooperation. Further development of the strategic partnership, formalized after Prime Minister Modi’s visit last year, will continue to shape the relationship.