Limassol, Cyprus | June 16, 2025
Prime Minister Narendra Modi, in a historic address at the India-Cyprus CEO Forum, highlighted India’s unstoppable digital transactions transformation, its rising economic power, and its mission to make global fintech more inclusive and innovative.
This marks the first visit by an Indian Prime Minister to Cyprus in two decades, underscoring the growing strategic significance of bilateral economic relations.
India’s Digital Transactions Supremacy: UPI at the Forefront
Boosting business linkages!
— Narendra Modi (@narendramodi) June 15, 2025
President Nikos Christodoulides and I interacted with leading CEOs in order to add vigour to commercial linkages between India and Cyprus. Sectors like innovation, energy, technology and more offer immense potential. I also talked about India’s… pic.twitter.com/hVcbloCMyP
In a landmark revelation, PM Modi stated that India now accounts for 50% of all digital transactions worldwide, thanks to the homegrown Unified Payments Interface (UPI) system for Digital transactions.
“India has undergone a remarkable digital revolution. UPI has empowered millions and brought financial services to the fingertips of every citizen,” he said.
Modi invited other countries to join the UPI revolution, following in the footsteps of France, which has already integrated with the Digital Transactions platform. Talks with Cyprus on a similar adoption are underway.
🌏 Economic Ascent: Fifth-Largest and Rising
Reaffirming India’s position as the world’s fifth-largest economy, Modi projected India’s imminent rise to the third-largest economy globally, driven by robust reforms in taxation, infrastructure, and ease of doing business.
He cited $100 billion in annual infrastructure investment, massive improvements in ports, aviation, and green energy, and a thriving startup ecosystem with over 100,000 startups creating tech-led solutions for real-world challenges.
“Innovation is now a cornerstone of India’s economic model. Our startups don’t just sell dreams—they deliver solutions,” Modi remarked.
🌍 Cyprus: A Gateway to Europe
Modi positioned Cyprus as a strategic partner, calling it a “gateway to Europe” and urging CEOs and investors to deepen India-Cyprus trade, which currently stands at $150 million but is “ripe for expansion.”
He called for co-development and co-production partnerships, urging companies to tap into India’s young talent pool, stable governance, and large consumer base.
“Come, Make in India. Come, Co-design with India. The world’s future is being coded in India,” Modi said to a standing ovation.
🤝 Strengthening Global Partnerships
PM Modi’s speech marks a defining moment for India-Cyprus economic diplomacy, reinforcing India’s ambition to lead not only in digital innovation but also in sustainable, inclusive growth across borders.
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