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Cyprus is emerging as a key gateway for Indian companies seeking access to European and Middle Eastern markets, with the arrival of two major conglomerates, Thomas Cook India and LTIMindtree, signaling a new phase of economic cooperation.
Chrysilios Pelekanos, president of the India-Greece-Cyprus Business Council (IGC), hailed the development as a “golden opportunity” during a recent appearance on the EPICHEIREIN segment of DIASPORA NEWS on SPOR FM 95.0.
According to Kathimerini's Dorita Yiannakou, the expansion aligns with India’s broader strategy to boost its global economic presence through the India–Middle East–Europe Economic Corridor. With India poised to become the world’s largest economy by 2047, an increasing number of Indian companies are pursuing international growth.
Thomas Cook India plans to use Cyprus as a regional base for tourism operations, while tech giant LTIMindtree is set to launch a center for artificial intelligence and digital technologies on the island.
Beyond these sectors, companies in renewable energy, pharmaceuticals, shipping, and research are also exploring opportunities in Cyprus, drawn by its strong legal framework and skilled workforce, Pelekanos said.
The initiative is backed by Eurobank, the Cypriot government, Invest Cyprus, and the IGC. In February, the council was inaugurated in Mumbai, followed by a memorandum of understanding between Eurobank and the Indian Chamber of Commerce to foster collaboration across key industries.
“These companies are not just visiting. They’re here to stay,” Pelekanos said, calling the move a pivotal moment in Cyprus’s positioning as a strategic economic hub.
