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India-Cyprus Business Forum Conclave strengthens Bilateral Trade and Investment Opportunities

February 20, 2025: Following the Memorandum of Understanding (MoU) between the Bombay Chamber of Commerce and Industry and the Cyprus Chamber of Commerce and Industry, the Honorary Consul of the Republic of Cyprus in Mumbai organised the Cyprus Business Forum Conclave. The event aimed to strengthen bilateral trade and investment between India and the Republic of Cyprus.

Sandeep Khosla, Director General of the Bombay Chamber of Commerce & Industry, welcomed the gathering and highlighted the Chamber’s role in enhancing trade and commerce between India and Cyprus. He also spoke about the vast history of the Bombay Chamber, the oldest chamber in India.

Delivering the keynote address, H.E. Evagoras Vryonides, High Commissioner of the Republic of Cyprus in India, emphasised the long-standing relationship between Cyprus and India, dating back to the 1950s with the formation of the Non-Aligned Movement (NAM). Now a member of the European Union, Cyprus serves as a gateway to the EU. He highlighted several advantages of doing business in Cyprus, including a low corporate tax rate of 12.5%, ease of doing business, an equitable climate, and strong infrastructure. He also identified key areas for potential cooperation between India and Cyprus, such as tourism, education, IT, sports, and weddings as a growing sector.

Viraj Kulkarni, Honorary Consul of the Republic of Cyprus in Mumbai, spoke about India-Cyprus trade relations and outlined plans to expand Cyprus’s presence in Maharashtra over the next six months. He also mentioned ongoing discussions with Air India to increase flight connectivity to Cyprus, which would further facilitate trade and tourism.

In a video message, H.E Manish, the High Commissioner of India to the Republic of Cyprus highlighted the historical ties between India and Cyprus and their strategic positions at the crossroads of Asia and Europe. He noted that India is the fastest-growing economy in the world, while Cyprus is the second-fastest growing economy in the EU. He emphasised strengthening collaboration through the “4 Ts” framework – Trade, Technology, Talent, and Tourism.

The event also featured presentations from key stakeholders, including:

Cyprus Securities and Exchange Commission
Invest Cyprus on Doing Business in Cyprus.
Cyprus Stock Exchange on Opportunities & New Developments.
Techisland
Cyprus Investment Fund Association, on Cyprus Alternative Investment Fund Industry