Address by H.E. Mr. Manish, High Commissioner of India to Cyprus
Launch of the India–Greece–Cyprus Business & Investment Council
Limassol, 16 May 2025

1. Honourable Deputy Minister to the President of the Republic of Cyprus, Ms. Irene Piki, Honourable Deputy Minister of Tourism, Mr. Kostas Koumis, Ambassador of Greece to Cyprus, H.E. Mr. Ioannis Papameletiou, Leadership of Invest Cyprus, Cyprus Chamber of Commerce and Industry, Cyprus India Business Association, Enterprise Greece and the Research and Innovation Foundation, Chief Executives of Hellenic Bank, Euro Bank group, Fairfax Digital, LTI Mindtree and Thomas Cook India Ltd, Senior Leadership from the Indian Chamber of Commerce, Distinguished members of the India–Greece–Cyprus Business & Investment Council, CEOs, investors, policymakers, and  innovators, Ladies and Gentlemen,

2. It is both an honour and a privilege to address this distinguished gathering on the formal launch of the India–Greece–Cyprus Business & Investment Council. On behalf of the Government of India and the High Commission of India in Nicosia, I extend my warm greetings to all of you assembled here today.
3. Today, we launch a vision. A vision that draws from ancient civilisational linkages but speaks to a decidedly modern aspiration: An aspiration to build economic corridors anchored in democracy, innovation, and prosperity. India, Greece, and Cyprus—three countries with rich heritage and strategic geography—are coming together today to institutionalise a trilateral framework for growth.
4. Today’s launch takes place at a defining moment in India’s growth story—one characterised both by headline numbers and structural depth. India is today a decisive contributor to the global economy's next chapter. We are now the fifth-largest economy in the world by nominal GDP, contributing approximately 10% to global GDP. India’s digital public infrastructure has scaled to over 1.3 billion users and facilitates millions of transactions every month. Our electronics manufacturing exports have grown by a Compounded Annual Growth Rate of 26% between FY 2016 to FY 2025. Our defence exports last year stood at 2.8 Billion USD which is a 34-fold increase over FY 2013-14. In clean energy, we are targeting 500 GW of non-fossil fuel capacity by 2030. And our innovation landscape OF 160,000 start-ups is led by 113 unicorns, creating 1.7 Million jobs, placing India as the world’s third-largest startup ecosystem. What sets this phase apart is our commitment to building these capacities through meaningful international collaborations. It is in this spirit that we look to partners like Cyprus and Greece—partners who share our belief that the future will be shaped not only by the size of economies, but by the strength of synergies they foster.
5. Today’s Council will give shape and direction to these aspirations. It will create a structure to promote investments, co-develop technologies, boost mobility of high-skilled talent, and enhance connectivity in critical sectors—tourism, renewable energy, pharmaceuticals, defence manufacturing, and infrastructure. The presence here today of key figures from government and industry signals the breadth of opportunity we are collectively looking to unlock.
6. We are particularly proud that this launch follows the opening of the LTIMindtree AI and Digital Centre at CYENS, and the unveiling of TCI EURO by Travel Circle International. These are early signs of what this Council can deliver: deep technology integration, enterprise mobility, and next-generation tourism platforms.
7. In many ways, this Council is both a response and an opportunity. A response to the shifting global economic architecture—where mid-sized, innovation-focused democracies must find synergy. And an opportunity—to co-create platforms that benefit from India’s scale, Greece’s connectivity, and Cyprus’s strategic location, especially in finance, research, and regional access.
8. I also want to take a moment to recognise the deep government and industry support that has enabled this launch. To Invest Cyprus, Enterprise Greece, the Cyprus India Business Association, PwC, Eurobank, the Indian Chamber of Commerce, and our many stakeholders present here—you have laid the foundation for an institution. We thank you for your vision and trust.
9. Let us also acknowledge the timing. This year, Cyprus has launched its Brain Gain strategy and is preparing to assume the EU Council Presidency in 2026. Greece has made major strides in investment reform. India is executing its Vision 2047 with resolve. These national agendas must now be linked—and this Council can serve as the bridge.
10. I look forward to seeing the outcomes of today’s panel discussion on “Catalyzing Growth”—because this is what this Council must stand for: not theoretical exchange, but practical, measurable results in trade, investment, innovation and people-to-people ties.
11. In conclusion, I wish to reiterate what was shared last evening - “India’s door is open. We see this Council as the starting engine. Let us build together. Let us innovate together. And above all, let us grow—together”.
12. Thank you.