India and Cyprus have taken a significant step to deepen their financial links. The NSE International Exchange at GIFT City, Gandhinagar, and the Cyprus Stock Exchange signed a Memorandum of Understanding (MoU) to enable dual listings and promote joint financial research and outreach programmes. Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), told ANI, “NSE International Exchange at GIFT City, Gandhinagar, which is India’s face to the world, and Cyprus Stock Exchange, to do dual listing as well as research and outreach programmes on various financial instruments to create collaboration between European companies and GIFT City, Gandhinagar. This is going to open a new chapter in Cyprus-India relations going forward.”
Flash: The NSE International Exchange Gift City signs MOU with Cyprus Stock Exchange to enable cross border flows.
This is the first of its kind arrangement between Europe and Gift City India. This will benefit Investors in GIFT City, Cyprus and Europe. https://t.co/kFeHh1pHPy
— Sidhant Sibal (@sidhant) June 15, 2025
Investment Link: New Cross-Border Opportunities on the Horizon
The signed MoU is designed to open fresh investment links between Europe and India. Through dual listings, European companies will now have access to India’s thriving markets via GIFT City’s international exchange. This collaboration aims to boost cross-border capital flows, offering investors in both Cyprus and India a wider range of financial instruments. The partnership is expected to make it easier for companies to attract global investors while giving traders access to diversified opportunities. With new financial bridges being built, investors can look forward to cross-market access like never before.
Diplomatic Link: Modi’s Visit Sparks Financial Partnerships
Prime Minister Narendra Modi’s official visit to Cyprus played a key role in building these new links. During his trip, PM Modi participated in a roundtable interaction with Cypriot President H.E. Nikos Christodoulides and top business leaders from both nations. The high-profile meeting took place in Limassol and attracted major players from banking, finance, defence, shipping, logistics, artificial intelligence, digital technology, tourism, and mobility. The event provided an interactive platform to foster partnerships, discuss bilateral business possibilities, and sign agreements aimed at strengthening India-Cyprus economic relations.
Capital Link: BAO Capital Commits $100 Million to India
Cyprus-based BAO Capital Partners Ltd, an Alternative Investment Fund Manager, has introduced a major capital link to India. During the visit, the company announced that it has secured over USD 100 million in commitments for its India-focused flagship fund. The fund will channel investments into public equities and emerging technologies aligned with the “Make in India” initiative. BAO Capital will specifically target AgroTech, clean logistics, and drone applications, key sectors for enhancing rural productivity and driving sustainable development. This capital flow is set to energize India’s growth sectors and attract further European interest.
Digital Link: UPI Set to Debut in Cyprus
In another game-changing move, India’s digital payment ecosystem is building a strong link with Cyprus. The National Payments Corporation of India (NPCI), through its international subsidiary NIPL, signed an MoU with Eurobank of Cyprus. This agreement will bring India’s Unified Payments Interface (UPI) services to Cyprus, enabling seamless cross-border transactions. The introduction of UPI in Cyprus will simplify payments for businesses and tourists from both countries. With this digital handshake, India is expanding its fintech reach while providing Cypriot users access to one of the fastest payment systems in the world.
(With Inputs From ANI)
