Cyprus is to open a trade centre in Mumbai, President Nikos Christodoulides announced on Thursday, with the centre set to open its doors in September.

“As part of our ongoing efforts to deepen economic and business ties between Cyprus and India, I am delighted to announced today our decision for the establishment of a Cyprus trade centre in Mumbai,” he told the day’s Cyprus-India business forum.

He said that the centre “is designed to function as a hub for business connectivity”, and as such will assist Indian companies in “exploring opportunities in Cyprus and across Europe”.

This, he said, will “encourage partnerships with Cypriot enterprises and facilitate access to the European Union through a stable, transparent, and fully EU-compliant business environment”.

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“I firmly believe that this decision will open new avenues for investment, trade, and innovation, while reinforcing Cyprus’ position as a reliable entry point for Indian businesses into Europe and the broader region,” he said.

He had earlier said that the centre’s creation exhibits Cyprus’ “clear will to enhance even more our economic ties”, and said later in the day during a roundtable meeting of business leaders that “the [centre’s] aim is to build stronger economic and commercial links between our two countries”.

“The Cyprus trade centre will serve as a practical bridge between our business communities, supporting Indian companies seeking opportunities in Cyprus and Europe, facilitating partnerships with Cypriot businesses, and enhancing access to the European Union market,” he said. 

The chairman of Cyprus chamber of commerce and industry (Keve) Stavros Stavrou told the forum that the island is “uniquely positioned” to act as a “strategic gateway” for Indian businesses seeking to expand into Europe and the wider region.

“The global economy is being shaped before our eyes. Trade routes are evolving, supply chains are shifting, investment priorities are changing, and businesses across the world are looking for trusted partners and strategic gateways that offer stability, connectivity, and credibility,” he said.

Cyprus, he said, “is uniquely positioned to fulfil this role”, given that it is a member of the European Union and the Eurozone which is “situated at the crossroads of Europe, the Middle East, and Africa”.

As such, he added, the island “has evolved into an international business and investment hub with global reach”.

“But what truly differentiates Cyprus is not only geography, it is our ability to combine strategic location with institutional stability, a highly business-orientated environment and a sophisticated ecosystem of legal, financial, shipping, technology, and professional services,” he said.

He added that the island “offers Indian businesses direct access to the European market through a jurisdiction which is internationally trusted, efficient, and deeply connected to global commerce”.

“For decades, international companies have chosen Cyprus as a platform for cross border investment and international operations. Today, our economy is evolving rapidly across sectors,” he said.

Those sectors, he added, include financial technology, shipping, energy, and investment funds, as well as higher education.

“Increasingly, Cyprus is becoming a natural base for companies looking to expand across Europe and the wider region,” he said, before offering praise for his host country, saying that “India’s rise represents one of the great economic transformations of our era”.

“India today is nit only one of the fastest-growing major economies in the world, it is a global force in innovation, technology, entrepreneurship, and industrial growth. The confidence, scale, and vision with which India is shaping its future are deeply impressive,” he said.