Shemaine Bushnell Kyriakides
Even as regional tensions disrupted travel plans and kept many participants away, the India–Cyprus Business & Investment Summit 2026 moved forward Tuesday in Nicosia, underscoring growing economic ties between the two countries and a shared push to turn diplomacy into business opportunities.
Held at the Hilton Nicosia, the summit was designed as a follow-up to January’s Cyprus–India Summit in Mumbai, bringing together business leaders, investors and government officials eager to expand cooperation between the two markets.
Organizers said only about one-third of expected participants were able to attend in person due to the ongoing regional conflict. More than 50 businesspeople and officials from India had originally planned to travel to Cyprus, with many now expected to join discussions online and continue meetings virtually in the coming weeks.
Still, the message from the room was clear: business dialogue between Cyprus and India is moving ahead, even under difficult circumstances.
Building bridges between two growing partners
The event opened with remarks by Chrysilios Pelekanos, president of the Cyprus India Business Association, followed by a welcome address from India’s High Commissioner to Cyprus, Manish, who highlighted the rapidly strengthening relationship between the two countries.
Deputy Minister to the President Irene Piki delivered the keynote speech, pointing to Cyprus’s strategic position as a business gateway linking Europe, the Middle East and Asia.
Invest Cyprus CEO Marios Tannousis was among the key participants, alongside government officials including Deputy Migration Minister Dr. Nicholas Ioannides and Energy, Commerce and Industry Minister Michalis Damianos.
Foreign Minister Constantinos Kombos was unable to attend due to developments tied to the regional crisis and was represented by Dimitris Assos.
Business representatives from both countries also took part, including Fairfax Digital Services, India’s Pinaca Technologies, Bao Capital Partners, Rukam Capital, MSC Shipmanagement, and several Cypriot organizations such as the Cyprus Chamber of Commerce and the Cyprus Hydrogen Association.
Turning talks into action
A central focus of the summit was moving beyond discussion toward concrete cooperation.
Several memorandums of understanding (MOUs) were signed during the event, aimed at strengthening business collaboration and encouraging new investment initiatives.
Among the most notable agreements was an MOU between the Cyprus Chamber of Commerce and the Federation of Indian Chambers of Commerce and Industry (FICCI), formalizing closer cooperation between the two countries’ business communities. Organizers also highlighted the signing of the first agreement between a Cypriot company and an Indian company, seen as an early but important step toward deeper commercial partnerships.
Relations gaining momentum
The summit comes amid a period of unusually strong diplomatic momentum between Cyprus and India.
Indian Prime Minister Narendra Modi’s visit to Cyprus in June 2025, the first by an Indian prime minister in more than 20 years, marked a turning point in bilateral relations. During the visit, Modi received Cyprus’s highest civilian honor, the Grand Cross of the Order of Makarios III, while both countries adopted a joint action plan covering cooperation through 2029.
That momentum continued later in the year when Foreign Minister Kombos traveled to New Delhi for talks aimed at expanding cooperation across trade, investment and strategic sectors.
Business continues despite uncertainty
While the regional conflict reshaped attendance, organizers said the hybrid format ultimately reflected the resilience of business cooperation in uncertain times.
For Cyprus, officials say the goal is clear: position the island as a reliable meeting point for investment and partnerships connecting Europe and India, even when global conditions make travel and diplomacy more complicated.
