Mumbai: Deputy Minister of Research, Innovation and Digital Policy, Dr. Nicodemos Damiano held a meeting in Mumbai with the CEO of the Stock Exchange of India (NSE), Ashishkumar Chauhan, highlighting the role of Cyprus as a gateway to Europe for Indian businesses.
According to Cyprus News Agency, the visit is part of a dynamic period of deepening bilateral Cyprus-India business and investment relations, which is already yielding tangible results, as Indian companies, mainly in the technology sector, are already operating in Cyprus.
It is noted that the visit followed the Indian Prime Minister’s visit to Cyprus and the Memorandum of Understanding signed in June between the NSE and the Cyprus Stock Exchange (CSE). The Memorandum paves the way for collaborations in investment, development of new financial products, and parallel listing of companies on the Stock Exchanges, and is considered particularly important for strengthening the broader framework of business cooperation between the two countries.
The Deputy Ministry stated that during discussions with the leadership of the NSE, Cyprus’ role as a gateway to Europe for Indian businesses was highlighted. Additionally, the prospects for developing strategic partnerships in areas such as cybersecurity and artificial intelligence in the financial services and capital markets sector were also stressed.
The press release noted that according to Damianou, “the strengthening of cooperation in matters concerning innovation in the financial sector constitutes another step towards the expansion of Cyprus-India business relations, especially with the Mumbai region, which is a center of financial activity, concentrating around 40% of all Foreign Direct Investment in India.”
The Deputy Minister was accompanied by Chief Scientist for Research, Innovation and Technology, Demetris Skourides, CEO of Invest Cyprus, Marios Tannousis, General Secretary of the Cyprus Chamber of Commerce and Industry Philokypros Rousounides, and High Commissioner of Cyprus to India, Evagoras Vryonides.
During his visit, the Deputy Minister also had the honor of ringing the bell at the closing of the NSE, “symbolically marking the new era of India-Cyprus cooperation in the capital markets.”