New Delhi: The Confederation of Indian Industry (CII) on Thursday signed a strategic Memorandum of Understanding (MoU) with the Cyprus Chamber of Commerce and Industry (CCCI) during the Cyprus-India Business Forum, aimed at strengthening trade, investment and technology partnerships between the two countries.
The agreement was signed in the presence of Cyprus President Nikos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis, along with senior officials from both countries.
The MoU seeks to expand cooperation between Indian and Cypriot industries through investment promotion, joint ventures, business delegations, trade fairs and sector-focused engagements across areas such as technology, manufacturing, logistics, defence, digital innovation and services.
B Thiagarajan, Chairman, CII National Committee on Skill and Livelihood Centres, said the partnership would create new opportunities for trade and economic cooperation between the two countries.
"The CII-CCCI partnership would open new avenues for trade, investment and technology collaboration while deepening economic engagement between India and Cyprus," Thiagarajan said.
He further added that "stronger industry partnerships would accelerate growth across key sectors including technology, manufacturing, logistics, defence, digital innovation and services."
In a parallel development, the Society of Indian Defence Manufacturers (SIDM) also signed an MoU with the Cyprus Defence & Space Industry Cluster (CyDSIC) to strengthen collaboration in defence manufacturing, aerospace innovation, dual-use technologies and industrial partnerships.
According to the statement, the agreements aimed to improve business linkages, technology partnerships and industry exchanges while creating fresh opportunities for cooperation in strategic and defence sectors.
The business forum highlighted growing economic engagement between India and Cyprus amid efforts by both sides to deepen commercial and industrial cooperation.
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.