Business & Investment Centre for India

High Commission of India, Nicosia

India–Cyprus Economic Partnership | Trade | Investment | Innovation | Market Access

India is one of the world’s fastest-growing major economies and a leading destination for global investment, innovation, manufacturing, technology, services and sustainable growth. The Business & Investment Centre for India of the High Commission of India, Nicosia serves as a dedicated information and facilitation platform for Cypriot businesses, investors, entrepreneurs, institutions and professionals interested in exploring opportunities with India.

The Centre aims to provide quick access to information on investing in India, doing business with India, key growth sectors, Government of India initiatives, business facilitation platforms, India–Cyprus economic cooperation, and useful official links.

India’s investment ecosystem is supported by a liberal FDI regime, large domestic market, strong digital infrastructure, expanding manufacturing base, skilled talent pool, reform-oriented governance, and dedicated investor facilitation mechanisms such as Invest India and the National Single Window System. Invest India is India’s national investment promotion and facilitation agency and offers investor support free of cost.

Why India

India offers a unique combination of scale, talent, innovation and reform-driven growth.

India today is:

• A large and expanding consumer market;
• A major global hub for services, technology and digital transformation;
• A rising manufacturing destination under Make in India;
• A global leader in digital public infrastructure and financial technology;
• A leading source of skilled professionals, start-ups and innovation;
• A major partner for renewable energy, green hydrogen, healthcare, pharmaceuticals, space, logistics, shipping and advanced manufacturing;
• A trusted partner for Europe and the Eastern Mediterranean in resilient supply chains, technology, talent and sustainable growth.

India has developed a strong policy ecosystem for investors, including liberalised FDI rules, sector-specific reforms, production-linked incentives, digital approval systems and state-level investment facilitation.

India–Cyprus Economic Linkages

India and Cyprus enjoy longstanding and friendly relations, supported by democratic values, strong people-to-people ties and growing economic complementarities. Cyprus has been an important investment partner for India and a useful gateway for engagement with the European Union, Eastern Mediterranean and wider regional markets.

Cyprus’ value for Indian and international businesses lies not only in its domestic market, but in its wider role as:

• An EU Member State;
• A common law-based jurisdiction;
• An English-speaking business environment;
• A services, shipping, legal, accounting and financial hub;
• A bridge to Europe, West Asia, North Africa and the Eastern Mediterranean;
• A platform for companies looking at EU-linked operations;
• A market with direct access to policymakers, chambers, banks, investment agencies and professional services networks.

The Mission has actively projected Cyprus as a strategic gateway for Indian companies seeking to engage with Europe and the Eastern Mediterranean, while also presenting India as a major growth market and investment destination for Cypriot businesses.

Recent Momentum in India–Cyprus Business Engagement

India–Cyprus economic engagement has gained renewed momentum following high-level exchanges and institutional initiatives.

The India–Cyprus Business & Investment Summit 2026: Transforming Tomorrow, organised by the High Commission of India, Nicosia on 3 March 2026, brought together over 250 Cypriot policymakers, business leaders and entrepreneurs, along with around 20 Indian companies and institutions. The discussions focused on technology and innovation, trade and investment, energy and green transition, IMEC, human capital, defence industry, financial services, shipping and logistics.

The Summit also witnessed the signing of three MoUs: CCCI–FICCI MoU to promote trade and investment cooperation; CCCI–SEPC MoU to strengthen services-sector cooperation; and a defence-sector cooperation MoU between Indian and Cypriot companies, marking an important industry-level step in bilateral cooperation.

India–Cyprus financial connectivity has also strengthened. During the visit of Prime Minister Shri Narendra Modi to Cyprus in June 2025, NSE International Exchange, GIFT City, and the Cyprus Stock Exchange signed an MoU to create a framework for cross and dual listings, capital-market collaboration and stronger financial connectivity between the two countries.

The signing of an MoU between NPCI International Payments Limited and Eurobank Cyprus to enable cross-border payments through India’s UPI system brought India’s digital public infrastructure story into the India–Cyprus relationship.

Investing in India

Investor Facilitation

Invest India

Invest India is the National Investment Promotion and Facilitation Agency of India. It is the first point of contact for global investors and provides facilitation support for investment opportunities across sectors and states. Services provided by Invest India are free of cost.

Website: https://www.investindia.gov.in/
Email: contact@investindia.org.in
Phone: +91-11-23072328

Invest India can assist investors with:

• Sector information;
• State-level opportunities;
• Policy guidance;
• Investment facilitation;
• Business setup support;
• Queries on approvals and incentives;
• Connecting investors with relevant government agencies.

National Single Window System

The National Single Window System (NSWS) is a digital platform for investors and businesses to identify and apply for approvals as per their business requirements. It provides guidance through the Know Your Approvals module and hosts applications for approvals from Central Departments and State Governments.

Website: https://www.nsws.gov.in/

NSWS helps businesses:

• Identify approvals required for a proposed business activity;
• Apply for approvals through a common platform;
• Access central and state-level clearance information;
• Reduce the need to navigate multiple portals separately.

Foreign Direct Investment Policy

India has put in place a liberal FDI policy. Under the automatic route, non-resident investors or Indian companies generally do not require prior Government approval for investment in permitted sectors, subject to applicable sectoral caps, conditions and regulations.

Many sectors permit up to 100% FDI under the automatic route, while certain sensitive sectors require government approval or are subject to sectoral limits. Investors are advised to consult official FDI policy documents and seek professional advice before making investment decisions.

Useful Links:
DPIIT FDI Policy: https://dpiit.gov.in/
Make in India – FDI Policy: https://www.makeinindia.com/policy/foreign-direct-investment
Invest India: https://www.investindia.gov.in/

Key Sectors for India–Cyprus Business Cooperation

1. Technology, Innovation and Start-ups

India is one of the world’s major technology and innovation ecosystems. It offers opportunities in:

• Artificial Intelligence;
• Fintech;
• Digital public infrastructure;
• Cybersecurity;
• Software services;
• Digital transformation;
• Start-ups;
• Data-driven governance;
• Health-tech;
• Ed-tech;
• Enterprise technology;
• Semiconductor and electronics ecosystem;
• Research and innovation partnerships.

The High Commission of India, Nicosia, in partnership with PwC Cyprus, organised the Cyprus–India AI Impact Pre-Summit: Driving Innovation and Growth on 14 January 2026 in Nicosia. The event brought together over 100 participants from government, business, academia and the innovation ecosystem to discuss AI, digital transformation, responsible technology, academic–industry collaboration, start-up linkages and innovation partnerships.

Useful Links

Startup India: https://www.startupindia.gov.in/
Digital India: https://www.digitalindia.gov.in/
MeitY Startup Hub: https://www.meitystartuphub.in/
Invest India – Technology & Innovation: https://www.investindia.gov.in/

2. Manufacturing and Make in India

India is rapidly emerging as a global manufacturing hub. The Make in India programme seeks to promote manufacturing, investment, innovation and skill development across priority sectors.

Make in India 2.0 focuses on several sectors including automobiles, aerospace, aviation, biotechnology, chemicals, defence manufacturing, electronics, food processing, IT & BPM, pharmaceuticals, ports and shipping, renewable energy, roads and highways, space, textiles and garments, tourism and wellness.

The Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of ₹1.97 lakh crore to enhance India’s manufacturing capabilities and exports.

Useful Links

Make in India: https://www.makeinindia.com/
Invest India – Sectors: https://www.investindia.gov.in/sector
PLI Schemes: https://www.investindia.gov.in/team-india-blogs/pli-scheme-game-changer-indias-manufacturing-sector
National Single Window System: https://www.nsws.gov.in/

3. Renewable Energy and Green Hydrogen

India is strongly committed to clean energy transition, renewable energy expansion and green hydrogen development.

The National Green Hydrogen Mission aims to make India a global hub for the production, utilisation and export of green hydrogen. This creates opportunities for collaboration in:

• Green hydrogen production;
• Electrolysers;
• Renewable energy integration;
• Energy storage;
• Green shipping;
• Sustainable industrial transition;
• R&D cooperation;
• Investment partnerships;
• Climate and sustainability technologies.

India–Cyprus cooperation in green hydrogen and renewable energy is a promising area, particularly given Cyprus’ interest in sustainable energy transition and India’s expanding renewable energy ecosystem.

Useful Links

Ministry of New and Renewable Energy: https://mnre.gov.in/
National Green Hydrogen Mission: https://mnre.gov.in/national-green-hydrogen-mission/
Invest India – Renewable Energy: https://www.investindia.gov.in/sector/renewable-energy

4. Financial Services, Fintech and Capital Markets

India and Cyprus have strong complementarities in financial services, capital markets, fintech, fund structures and professional services.

The MoU between NSE International Exchange, GIFT City, and the Cyprus Stock Exchange provides a framework for cross and dual listings, capital-market collaboration and market development.

The MoU between NPCI International Payments Limited and Eurobank Cyprus to enable UPI-linked cross-border payments also opens new possibilities in fintech cooperation and digital payments.

Areas of Opportunity

• Capital market linkages;
• Cross and dual listings;
• Fund management;
• Fintech collaboration;
• Digital payments;
• Wealth and asset management;
• GIFT City opportunities;
• Professional services;
• Tax, legal and advisory services;
• India–EU financial connectivity.

Useful Links

GIFT City: https://www.giftgujarat.in/
NSE International Exchange: https://www.nseix.com/
Cyprus Stock Exchange: https://www.cse.com.cy/
NPCI International Payments: https://www.npci.org.in/
Eurobank Cyprus: https://www.eurobank.com.cy/

5. Shipping, Maritime, Ports and Logistics

Shipping and maritime cooperation are natural areas for India–Cyprus business engagement. Cyprus is a major maritime jurisdiction and services hub, while India offers growing opportunities in ports, shipbuilding, maritime infrastructure, logistics, inland waterways, coastal shipping and green shipping.

The Mission has projected India as a maritime opportunity for Cyprus, including in shipping investment, shipbuilding, logistics, ports and inland waterways.

Areas of Opportunity

• Maritime services;
• Ship management;
• Port infrastructure;
• Green shipping;
• Logistics and supply chains;
• Inland waterways;
• Coastal shipping;
• Shipbuilding and repair;
• Maritime training;
• Digital maritime solutions.

Useful Links

Ministry of Ports, Shipping and Waterways: https://shipmin.gov.in/
Sagarmala Programme: https://sagarmala.gov.in/
Invest India – Ports and Shipping: https://www.investindia.gov.in/sector/ports-shipping

6. Defence Industry and Security Technologies

India’s defence manufacturing ecosystem is expanding rapidly, with growing emphasis on indigenous production, innovation, exports, co-development and industry partnerships. Cyprus and India have also advanced defence cooperation through institutional engagement.

The India–Cyprus Business & Investment Summit 2026 included a dedicated panel on Defence and Security Cooperation and witnessed a defence-sector cooperation MoU between Indian and Cypriot companies, marking the first such industry collaboration between the two countries.

Areas of Opportunity

• Defence electronics;
• UAVs and drones;
• Cybersecurity;
• Surveillance systems;
• Communication systems;
• Dual-use technologies;
• Defence innovation;
• Training and capacity building;
• Industry-to-industry cooperation.

Useful Links

Ministry of Defence: https://mod.gov.in/
Society of Indian Defence Manufacturers: https://www.sidm.in/
iDEX – Innovations for Defence Excellence: https://idex.gov.in/
Make in India – Defence Manufacturing: https://www.makeinindia.com/sector/defence-manufacturing

7. Pharmaceuticals, Healthcare and Medical Technology

India is a global leader in pharmaceuticals, generics, vaccines, biotechnology and affordable healthcare solutions. Opportunities exist in:

• Generic medicines;
• APIs;
• Biotechnology;
• Medical devices;
• Digital health;
• Hospital partnerships;
• Health-tech;
• Ayurveda and wellness;
• Medical tourism;
• Emergency healthcare technologies.

India’s healthcare and pharmaceutical strengths can complement Cyprus’ medical, regulatory, professional and EU-linked ecosystem.

Useful Links

Department of Pharmaceuticals: https://pharmaceuticals.gov.in/
Invest India – Pharmaceuticals: https://www.investindia.gov.in/sector/pharmaceuticals
Invest India – Healthcare: https://www.investindia.gov.in/sector/healthcare

8. Tourism, Hospitality, Wellness and Film Tourism

India offers strong opportunities in tourism, heritage, wellness, spiritual travel, Ayurveda, Yoga, medical tourism, film tourism and hospitality investment.

Cyprus, with its tourism sector and strong services ecosystem, can explore India both as:

• A source market for outbound tourism;
• A destination for Cypriot tourists;
• A wellness and medical tourism partner;
• A film and creative industries partner;
• A hospitality and tourism investment opportunity.

The Mission has also used Indian cinema, Yoga and cultural outreach to build awareness of India’s tourism and creative sectors in Cyprus.

Useful Links

Incredible India: https://www.incredibleindia.org/
Ministry of Tourism: https://tourism.gov.in/
Invest India – Tourism and Hospitality: https://www.investindia.gov.in/sector/tourism-hospitality
Ministry of AYUSH: https://ayush.gov.in/

9. Education, Skills and Talent Mobility

India has a large pool of skilled professionals, graduates, IT specialists, engineers, healthcare workers, logistics professionals and service-sector talent. India–Cyprus cooperation can expand in:

• Skilled manpower mobility;
• Professional services;
• Higher education partnerships;
• Research collaboration;
• Student exchanges;
• Digital skills;
• Technology training;
• Mutual recognition and structured mobility pathways.

The Mission has highlighted the importance of structured, ethical and skill-based mobility pathways in strengthening India–Cyprus cooperation and expanding opportunities for young Indian talent abroad.

Useful Links

Ministry of Skill Development and Entrepreneurship: https://www.msde.gov.in/
Skill India: https://www.skillindiadigital.gov.in/
Ministry of Education: https://www.education.gov.in/
Study in India: https://www.studyinindia.gov.in/

10. Space, Research and Deep Technology

India’s space sector is opening new opportunities for private-sector participation, satellite applications, remote sensing, earth observation, climate data, communications and space-tech innovation.

India–Cyprus space cooperation received momentum through engagements involving the Cyprus Space Exploration Organisation and Indian space-tech start-up Pixxel, including cooperation on smart space-tech applications and hyperspectral satellite imagery.

Areas of Opportunity

• Satellite applications;
• Earth observation;
• Remote sensing;
• Climate resilience;
• Disaster management;
• Space data analytics;
• Research and innovation partnerships;
• Start-up collaboration.

Useful Links

Indian Space Research Organisation: https://www.isro.gov.in/
IN-SPACe: https://www.inspace.gov.in/
NewSpace India Limited: https://www.nsilindia.co.in/
Invest India – Space: https://www.investindia.gov.in/sector/space

Doing Business with India

Step-by-Step Guide for Cypriot Businesses

1. Identify the Sector

Cypriot companies should first identify the sector of interest, such as technology, renewable energy, shipping, financial services, manufacturing, pharmaceuticals, education, tourism, defence, logistics or professional services.

2. Consult Official Investment Platforms

Businesses may consult:

• Invest India;
• Make in India;
• National Single Window System;
• Startup India;
• Sectoral ministry websites;
• State investment promotion agencies.

3. Understand FDI Rules and Sector Conditions

Investors should review applicable FDI rules, sectoral caps, automatic route eligibility, approval requirements and regulatory conditions.

4. Identify Indian Partners

Businesses may explore Indian partners through:

• Chambers of commerce;
• Industry bodies;
• Invest India;
• State investment agencies;
• Sector associations;
• B2B platforms;
• Trade fairs;
• Business delegations;
• High Commission facilitation.

5. Explore State-Level Opportunities

India’s States offer diverse investment ecosystems. Investors may compare states based on sector policies, industrial parks, incentives, infrastructure, logistics, talent availability and market access.

6. Use the National Single Window System

Investors can use NSWS to identify and apply for required approvals.

7. Contact the High Commission

The High Commission of India, Nicosia can guide Cypriot businesses toward relevant official platforms, Indian institutions, chambers, trade bodies and sector contacts.

Indian States: Investment Gateways

India’s States offer sector-specific opportunities and investment promotion agencies. Businesses are encouraged to explore state-level policies, incentives, land banks, industrial corridors, logistics hubs and sector clusters.

Selected State Investment Promotion Portals

Andhra Pradesh: https://apedb.gov.in/
Gujarat: https://investgujarat.gujarat.gov.in/
Karnataka: https://investkarnataka.co.in/
Maharashtra: https://invest.maharashtra.gov.in/
Tamil Nadu: https://investingintamilnadu.com/
Telangana: https://invest.telangana.gov.in/
Uttar Pradesh: https://invest.up.gov.in/
Rajasthan: https://invest.rajasthan.gov.in/
Madhya Pradesh: https://invest.mp.gov.in/
Odisha: https://investodisha.gov.in/
Kerala: https://invest.kerala.gov.in/
Haryana: https://investharyana.in/

Investors may also consult the States in India section of Invest India: https://www.investindia.gov.in/state

Useful Government of India Business Portals

Investment and Business Facilitation

Invest India: https://www.investindia.gov.in/
National Single Window System: https://www.nsws.gov.in/
Make in India: https://www.makeinindia.com/
Startup India: https://www.startupindia.gov.in/
Digital India: https://www.digitalindia.gov.in/
India Investment Grid: https://indiainvestmentgrid.gov.in/

Trade and Commerce

Ministry of Commerce and Industry: https://commerce.gov.in/
Department for Promotion of Industry and Internal Trade: https://dpiit.gov.in/
Directorate General of Foreign Trade: https://www.dgft.gov.in/
India Trade Portal: https://www.indiantradeportal.in/
Trade Connect e-Platform: https://www.trade.gov.in/

Finance and Capital Markets

Ministry of Finance: https://finmin.gov.in/
Reserve Bank of India: https://www.rbi.org.in/
Securities and Exchange Board of India: https://www.sebi.gov.in/
GIFT City: https://www.giftgujarat.in/
NSE International Exchange: https://www.nseix.com/

Sectoral Ministries and Agencies

Ministry of Electronics and Information Technology: https://www.meity.gov.in/
Ministry of New and Renewable Energy: https://mnre.gov.in/
Ministry of Ports, Shipping and Waterways: https://shipmin.gov.in/
Ministry of Tourism: https://tourism.gov.in/
Ministry of AYUSH: https://ayush.gov.in/
Department of Pharmaceuticals: https://pharmaceuticals.gov.in/
Ministry of Skill Development and Entrepreneurship: https://www.msde.gov.in/
Ministry of Education: https://www.education.gov.in/
Ministry of Defence: https://mod.gov.in/
ISRO: https://www.isro.gov.in/
IN-SPACe: https://www.inspace.gov.in/

Indian Industry Bodies

Cypriot companies may also connect with leading Indian chambers and industry bodies:

Federation of Indian Chambers of Commerce and Industry: https://ficci.in/
Confederation of Indian Industry: https://www.cii.in/
ASSOCHAM: https://www.assocham.org/
PHD Chamber of Commerce and Industry: https://www.phdcci.in/
Services Export Promotion Council: https://www.servicesepc.org/
Indian Chamber of Commerce: https://www.indianchamber.org/
Society of Indian Defence Manufacturers: https://www.sidm.in/
NASSCOM: https://www.nasscom.in/
Electronics and Computer Software Export Promotion Council: https://www.escindia.in/
Pharmaceuticals Export Promotion Council of India: https://pharmexcil.com/
Engineering Export Promotion Council of India: https://www.eepcindia.org/

Cyprus-Based Business Partners and Platforms

Businesses may also engage with relevant Cyprus-based institutions:

Cyprus Chamber of Commerce and Industry: https://ccci.org.cy/
Invest Cyprus: https://www.investcyprus.org.cy/
Cyprus Stock Exchange: https://www.cse.com.cy/
Cyprus Shipping Chamber: https://www.csc-cy.org/
Cyprus Employers & Industrialists Federation: https://www.oeb.org.cy/
Cyprus–India Business Association: https://ccci.org.cy/
Research and Innovation Foundation: https://www.research.org.cy/
Deputy Ministry of Research, Innovation and Digital Policy: https://dmrid.gov.cy/

India–Cyprus Business & Investment Summit 2026

The India–Cyprus Business & Investment Summit 2026: Transforming Tomorrow was organised by the High Commission of India, Nicosia on 3 March 2026, with dedicated B2B meetings on 2 March 2026 at the Cyprus Chamber of Commerce and Industry.

The Summit focused on:

• Technology and innovation;
• Trade and investment;
• Energy, connectivity and green transition;
• India–Middle East–Europe Economic Corridor;
• Human capital and talent;
• Defence and security cooperation;
• Financial services;
• Shipping and logistics;
• Professional services;
• Start-up and innovation partnerships.

The Summit brought together senior policymakers, chambers, business leaders, entrepreneurs and sector experts from India and Cyprus. It helped position India as a partner of scale, innovation and talent, and Cyprus as a gateway to the European Union and Eastern Mediterranean.

Summit Website: https://indiacyprussummit.com

How the High Commission Can Assist

The High Commission of India, Nicosia can support businesses by:

• Providing information on India’s investment and business ecosystem;
• Connecting interested Cypriot businesses with Invest India and relevant Indian agencies;
• Sharing information on sectoral opportunities in India;
• Facilitating linkages with Indian chambers and industry bodies;
• Supporting business delegations and B2B engagement;
• Sharing updates on India–Cyprus business events;
• Connecting Indian and Cypriot stakeholders in priority sectors;
• Providing information on trade fairs, investment summits and sectoral opportunities;
• Supporting outreach in technology, innovation, shipping, energy, tourism, education, healthcare and defence industry.

Contact

Commercial Wing
High Commission of India, Nicosia
No. 3, Indira Gandhi Street, Engomi 2413, Nicosia, Cyprus
Website: https://www.hcinicosia.gov.in/
Email: [Mission may insert official commercial/contact email]
Telephone: +357-22 357619

For investment facilitation in India, businesses are encouraged to also contact Invest India, the National Investment Promotion and Facilitation Agency of India.

Invest India: https://www.investindia.gov.in/
Email: contact@investindia.org.in

Suggested Homepage Box

Business & Investment Centre for India

Explore India’s investment opportunities, sectoral strengths, official business portals and India–Cyprus economic cooperation.

Quick Links:
Invest India | Make in India | Startup India | National Single Window System | India–Cyprus Business Summit | GIFT City | Digital India | Trade Portal | State Investment Portals

For business enquiries, contact the Commercial Wing of the High Commission of India, Nicosia.