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PM Modi addressed the India-Cyprus CEO Forum, highlighting India’s growth, digital revolution, and manufacturing vision. He reiterated commitment to an FTA with the EU by year-end.
PM Modi with Cyprus President Nikos Christodoulides at India-Cyprus CEO Forum (Image: X/@narendramodi)
Prime Minister Narendra Modi on Monday addressed the India-Cyprus CEO Forum at Limassol, highlighting New Delhi’s prowess in rapid economic transformation.
Speaking at the event Prime Minister Modi underlined India’s growth trajectory in reference to making a mark among world’s largest economies, its digital revolution and vision to emerge as a big player in the manufacturing sector globally.
PM Modi also reiterated India, European Union’s commitment to free trade agreement (FTA) by year-end. The Prime Minister also mentioned that an ambitious FTA was agreed between India and the United Kingdom in May.
The PM expressed joy over Cyprus Stock Exchange and NSE (National Stock Exchange) agreeing on cooperation in GIFT City in Gujarat. He added that India will soon conclude a FTA deal with Greece by year-end.
“I am happy to know that Cyprus Stock Exchange and NSE (National Stock Exchange) have agreed on cooperation in GIFT City in my home state, Gujarat. Last month, an ambitious FTA was agreed between India and UK. Now we are committed to conclude a free trade agreement between India and Greece by the end of this year, ” the PM said at the India-Cyprus CEO Forum.
Hailing the efforts of all the countries involved in the deal, he also welcomed the establishment of India, Cyprus, and Greece Business and Investment Council.
PM Modi also emphasised on the India-Cyprus relationship, calling it “our trusted partner for a long time.” The BJP leader also mentioned the significance of Cyrus’ investment in the country. He added that many Indian firms have also established their wings in Cyprus which is seen as a “gateway to Europe.”
“Cyprus has been our trusted partner for a long time and there has been significant investment from here in India. Many Indian companies have also come to Cyprus and in a way, Cyprus is seen as a gateway to Europe, “the PM added.
“Today, India is one of the fastest-growing emerging economies in the world… Today, India has a clear policy. Today, the mutual trade has reached 150 million dollars, but the real potential of our relations is much more than this. It has happened after 6 decades that the same government has been elected for the third consecutive time,” he further said.
Speaking about the primacy given to digital revolution in the country, the PM said, “There has been a digital revolution in the last 10 years. Financial inclusion has become an example of this. Today, 50 per cent of the world’s digital transactions take place in India through Unified Payments Interface i.e. UPI. Many countries, like France, are associated with it. Talks are going on to include Cyprus in this and I welcome it.”
Highlighting the strengths of India’s skilled talent and start-up ecosystem, he added,” We are investing more than a hundred billion dollars annually in the development of futuristic infrastructure in India. In this year’s budget, we have started the Manufacturing Mission. Our focus is on maritime and port development. We are also giving priority to shipbuilding and shipbreaking. A new policy is also being brought for this. The civil aviation sector is also moving forward rapidly. Innovation has become a strong pillar of India’s economic strength. Our more than 1 lakh startups sell solutions, not just dreams…”
Manisha Roy is a Senior Sub-Editor at News18.com’s general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18…Read More
Manisha Roy is a Senior Sub-Editor at News18.com’s general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18… Read More
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