New Delhi [India], May 22 (ANI): Prime Minister Narendra Modi on Friday announced the elevation of India-Cyprus relations to Strategic Partnership, stating that it will infuse new ambition and momentum into the relations between the two countries.

In a joint press statement after the delegation-level meeting with the Cyprus President Nikos Christodoulides, PM Modi highlighted the deep bond between both countries, noting that the investment from Cyprus has nearly doubled over the past decade.

'The bond between India and Cyprus has repeatedly stood the test of time. Today, with the formation of the India-Cyprus Strategic Partnership, we are set to infuse our relations with new ambition and new momentum,' PM Modi said.

A major centrepiece of the bilateral breakthrough is a bold economic blueprint. Pointing out that Cypriot investments into India have nearly doubled over the past decade, PM Modi linked this success to the shifting landscape of the India-European Union Free Trade Agreement (FTA).

'Investment from Cyprus to India has nearly doubled over the past decade, reflecting the growing trust between our two countries,' he added.

Noting the Free Trade Agreement with the European Union, PM Modi said that this achievement will further open up new opportunities for both countries, setting an aim to double investment in 5 years.

'The India-European Union Free Trade Agreement has further opened up a wealth of new opportunities. Building on these developments, we aim to double this investment again within the next five years,' he said.

To turn this ambition into reality, the two countries signed multiple Memorandums of Understanding (MoUs) across several foundational sectors, aligning digital infrastructure, fintech ecosystems, and research hubs. boosting institutional collaborations, student exchange programs, and joint scientific research and establishing a firm consensus to finalise a comprehensive Migration and Mobility Agreement alongside a Social Security Agreement to protect the rights of working professionals moving between both countries.

An MoU to establish a joint working group on counter terrorism was also exchanged.

Recognising Cyprus's critical geographical position in the Eastern Mediterranean and its current Presidency of the Council of the European Union, defence ties received a major upgrade.

The two democracies formally established a Joint Working Group on Counter-Terrorism to tackle radicalisation and cross-border threats. Furthermore, PM Modi announced targeted defence expansions focusing on cyber security, maritime domain awareness, and counter-terrorism operational networks.

PM Modi said, 'Our defence collaboration with Cyprus has also increased. We have also decided to expand cooperation in areas of cyber security, maritime security and counter terrorism.'

Addressing the broader geopolitical message of the alliance, PM Modi emphasised the bedrock principles guiding the new Strategic Partnership.

PM Modi said, 'The friendship between India and Cyprus is both strong and forward-looking. Our partnership is founded on a shared commitment to values such as democracy and the rule of law. We deeply respect the sovereignty and territorial integrity of all nations. India is, and will continue to be, fully dedicated to upholding these principles.'

President Christodoulides' current capital engagement follows a highly productive initial leg in Maharashtra, where he was formally welcomed by Governor Jishnu Dev Varma and Chief Minister Devendra Fadnavis.

In Mumbai, the President led a high-powered business delegation, including Cyprus's Foreign Minister Constantinos Kombos and Transport Minister Alexis Vafeades, to pitch massive two-way investment opportunities in global shipping, logistics, and financial services to Indian industrial leaders.

Following a diplomatic luncheon hosted by PM Modi at Hyderabad House today, President Christodoulides will proceed to the Rashtrapati Bhavan, where President Droupadi Murmu will formally receive the Cypriot leader and host an official state banquet in his honour.

The Ministry of External Affairs earlier noted how his visit builds on the momentum generated by Prime Minister Narendra Modi's historic visit to Cyprus in June 2025 and reflects the shared commitment to further strengthening the India-Cyprus partnership.'

The Cyprus President is accompanied by a high-level delegation, including Foreign Minister Constantinos Kombos, Transport Minister Alexis Vafeades, and senior officials and business leaders.

The engagement carries heightened diplomatic weight as the visit comes less than a year after PM Modi's landmark trip to Cyprus in June 2025, the first by an Indian Prime Minister to the Mediterranean nation in over two decades. (ANI)