Key Points

At the Business Roundtable Meeting in Cyprus, PM Modi highlighted GIFT City as a rising global financial hub.

In a post on X social media platform, Chauhan wrote: “Thank you @pmoindia @narendramodi for your interaction with business community yesterday at Cyprus and appreciating the collaboration between @nse_ix at Gift city Gujarat and Cyprus Stock Exchange”.

PM Modi welcomed the collaboration between NSE International Exchange (NSE IX) and the Cyprus Stock Exchange at GIFT City and encouraged deeper tourism cooperation and applauded the formation of the India–Cyprus–Greece Business and Investment Council as a key step toward stronger economic ties.

Highlighting India's rapid economic growth and vast potential at the India-Cyprus CEO Forum, the Prime Minister said that India has become the fifth-largest economy in the world today and is now on the path to becoming the third largest global economy soon.

"In the last one decade, India has become the fifth largest economy of the world and in the near future, we are moving very fast towards becoming the third largest economy of the world. Today, India is one of the fastest-growing emerging economies in the world... Today, India has a clear policy,” PM Modi told the gathering.

PM Modi further highlighted India's growing economic strength and its focus on futuristic infrastructure development. PM Modi also detailed focus areas, including the new Manufacturing Mission, maritime and port development, shipbuilding, and a rapidly expanding civil aviation sector.

NIPL (NPCI International Payments Limited) and the Eurobank Cyprus have reached an understanding on introducing UPI for cross border payments between the two countries which would benefit tourists and businesses, according to an official statement.

- IANS