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Indian business interest in Cyprus is gaining momentum, with drone tech leader Drone Destination planning to set up shop on the island. The company’s billionaire founder, Alok Sharma, is looking to make Cyprus a launchpad for expanding into European and Middle Eastern markets, according to sources cited by Kathimerini's Dorita Yiannakou.
Sharma, who heads India’s leading drone training and services company based in New Delhi, recently met with Cyprus’ Ministry of Transport, Communications and Works to explore regulatory requirements for drone operations under the Civil Aviation Department. The company’s physical presence in Cyprus is expected to materialize soon.
The plans include establishing a drone training center, offering operator certifications, and beginning exports of drone parts to Europe, with the Middle East in the pipeline for future growth.
Officials say Sharma’s interest was sparked during a roundtable discussion with Indian Prime Minister Narendra Modi, who visited Cyprus recently. The visit appears to have acted as a catalyst for Indian companies eyeing Cyprus as a strategic business hub. High-level meetings have since taken place to lay the groundwork for these expansions.
Cypriot authorities say the real value lies in the tech and expertise Drone Destination brings. Their drone applications, ranging from agriculture, shipping, and infrastructure to aerial firefighting, border patrol, and remote medical deliveries, could give a major boost to several sectors on the island.
“Cyprus has a real chance to become a technology and innovation hub, exporting drone services and training expertise across the region,” market insiders told “K”.
Drone Destination is also the first drone firm listed on India's NSE Emerge stock exchange and is a pioneer in both Drone-as-a-Service (DaaS) and operator training. Their programs are industry benchmarks, covering everything from safety and regulations to advanced flight skills.
Drone Destination joins a growing list of Indian firms now eyeing or operating in Cyprus, including tech giant LTI Mindtree, Thomas Cook India, and AI company BCentriqe.AI, based in Silicon Valley.
As Cyprus strengthens ties with India, officials say the benefits of these partnerships could open up a new chapter in high-tech business and exports for the island.
