The meeting between Cyprus’ Deputy Minister of Research, Innovation, and Digital Policy, Dr. Nikodimos Damianou, and India’s Minister of State for Electronics, Technology, Commerce, and Industry, Jitin Prasada, focused on enhancing economic and business ties between the two nations. Discussions also covered prospects for deepening bilateral cooperation, particularly in digital transformation sectors such as AI and cybersecurity.

According to an official statement, Dr. Damianou made an official visit to India from September 5 to 6, 2024, where he led a delegation participating in the "CII India Mediterranean Business Conclave." This business forum, organized by the Indian Ministry of External Affairs and the Confederation of Indian Industry (CII), took place in New Delhi on September 6, 2024. Representatives from 28 countries participated in the event, aiming to enhance regional cooperation and expand investment and business activities between India and Mediterranean nations.

During the forum, the Deputy Minister took part in a ministerial session focused on trade, economic cooperation, and investments, alongside India’s Minister of Commerce and Industry, Piyush Goyal. Dr. Damianou also delivered a closing speech at the conference, titled "India-Mediterranean: Shaping Future Cooperation," which was warmly acknowledged by India's Foreign Minister, Dr. Subrahmanyam Jaishankar.

In his speech, the Deputy Minister emphasized the excellent relations and long-standing friendship between Cyprus and India, noting that economic and business cooperation remains a cornerstone of this strong relationship.

"By participating in such events, we lay the groundwork for further promoting Cyprus not only as a pillar of stability and development in the region but also as a dynamic technological and business hub," Dr. Damianou stated.

He added, "Cyprus holds unique competitive advantages, such as its strategic geographic location, talented workforce, and business-friendly environment. We must further capitalize on these assets to achieve our government’s Vision 2035, which aims to position Cyprus as one of the best places in the world to live, work, and conduct business."

Cyprus' advantages as an investment and business destination, as well as opportunities for collaboration in areas such as technology and innovation, shipping, and investment funds, were also highlighted during the "Cyprus Country Roundtable" section of the forum. In addition to Dr. Damianou, participants included Cyprus' High Commissioner to India, representatives from Invest Cyprus, the Cyprus Research and Innovation Foundation, and companies like Eurobank and PwC Cyprus.

Simultaneously, the Deputy Minister, accompanied by the Chief Scientist for Research, Innovation, and Technology, Demetris Skourides, took part in a separate event organized by Invest Cyprus. This event, attended by Indian technology companies interested in establishing a presence in Cyprus, aimed to promote Cyprus as an emerging hub for technology and innovation and as a reliable gateway for investments to and from Europe.

Additionally, the delegation held a series of B2B meetings with foreign companies and investors who expressed interest in operating in Cyprus and collaborating with Cypriot businesses, the statement concluded.