Dorita Yiannakou
Two major Indian companies, Thomas Cook India and LTIMindtree, are officially setting up operations in Nicosia, marking a significant step in strengthening business ties between Cyprus and India.
In this first phase, the companies will be active in tourism, as well as in research, innovation, and artificial intelligence (AI). Their expansion reflects a broader strategy to enhance business collaboration between the two countries and establish Cyprus as a key gateway to Europe.
The move comes just ahead of the official launch of the Cyprus-Greece-India Business Council, which takes place in Cyprus on Friday. The council was previously inaugurated in Mumbai this past February and in Athens on Wednesday, forming part of a larger effort to build cross-regional cooperation.
The council was established following the signing of a Memorandum of Understanding (MoU) between Eurobank and the Indian Chamber of Commerce (ICC) in September 2024. Cyprus' national investment agency, Invest Cyprus, also supports the initiative, noting growing interest from Indian companies looking to enter the European market via Cyprus.
Both Thomas Cook India and LTIMindtree are closely linked to Fairfax Financial Holdings, which is also a key shareholder in Eurobank.
Two major events are planned in Nicosia today to mark the occasion:
At 4:00 p.m., Sanjay Tugnait (President & CEO, Fairfax Digital) and Indiver Rastogi (President & Group Head of Global Business Travel, Thomas Cook India Ltd.) will speak at Aeolos Cyprus Travel.
At 5:30 p.m., LTIMindtree will host an event at the CYENS Centre of Excellence to inaugurate a new AI and Digital Technology hub, further underlining the company’s commitment to innovation on the island.
The arrival of these two Indian giants marks a new chapter in Cyprus–India business relations, with potential for growth in sectors ranging from tech to travel.
*Read the original article in Greek here.
