During a business roundtable in Cyprus, Prime Minister Narendra Modi highlighted India's economic growth and the potential for becoming the third-largest economy globally. He emphasized the country's rapid transformation, policy predictability, and various reforms that have propelled India to be the fastest-growing major economy. Modi expressed confidence in India's position to move up from the fourth largest economy to the third largest in the near future.

India's focus on innovation, digital revolution, start-ups, and infrastructure development were key points in Modi's speech. He mentioned tax reforms, Goods and Services Tax, corporate tax rationalization, and efforts to enhance the ease of doing business. The Prime Minister also pointed out the opportunities for collaboration in sectors like civil aviation, port, shipbuilding, digital payments, and green development for companies from Cyprus.

Modi acknowledged the significance of the India-Cyprus relationship, particularly in terms of Foreign Direct Investment. He welcomed Cyprus's interest in investing in India and highlighted the potential for growth in bilateral ties. The Prime Minister also discussed the importance of collaboration in tourism, financial services, and other sectors between the two countries.

Furthermore, Modi welcomed initiatives such as the MOU between the NSE International Exchange GIFT CITY, Gujarat, and the Cyprus Stock Exchange, as well as the introduction of UPI for cross-border payments between India and Cyprus. He also mentioned the launch of the India–Greece–Cyprus Business and Investment Council to enhance cooperation in various sectors.

The Prime Minister expressed optimism about concluding the India-EU Free Trade Agreement by the end of the year, which would strengthen economic cooperation between India and Cyprus. He highlighted the practical suggestions from the business roundtable that would form the basis for a structured economic roadmap for long-term collaboration.

With a forward-looking approach, India and Cyprus are set to embark on a new era of economic cooperation, focusing on trade, innovation, and strategic sectors. The business roundtable participants represented diverse industries, including banking, manufacturing, technology, tourism, and more.