The India-Greece-Cyprus Business Council was officially launched on Thursday at the Taj Mahal Palace in Mumbai, marking a significant step in strengthening economic ties among the three nations.

According to a statement by Eurobank, this milestone follows the signing of a Memorandum of Understanding between Eurobank Group and the Indian Chamber of Commerce in September 2024.

The launch event was attended by representatives from the embassies of Greece and Cyprus in India, along with prominent business leaders, including Indian Chamber President and CEO of Jindal Stainless Ltd., Abhyuday Jindal, and Eurobank CEO Fokion Karavias.

The newly established Business Council aims to accelerate trade, investment, and strategic partnerships in various sectors, including infrastructure, shipping, technology, financial services, and small and medium enterprises (SMEs). It will provide a robust platform for businesses in all three countries to collaborate and expand their operations.

“With India emerging as a global economic powerhouse and Greece and Cyprus serving as strategic gateways to Europe, the Business Council seeks to deepen collaboration through trade missions, policy development, and investment facilitation. This initiative aligns with India’s growing global economic footprint and its commitment to fostering deeper international partnerships,” the statement said.

Indian Chamber President Abhyuday Jindal emphasized the strategic significance of the Council, stating that this collaboration reflects the shared vision of India, Greece, and Cyprus to drive economic growth and enhance bilateral trade relations.

“The Business Council will serve as a catalyst for unlocking new business opportunities, particularly in infrastructure, technology, renewable energy, and shipping, where our countries have immense potential for cooperation,” Jindal added.

Eurobank CEO Fokion Karavias highlighted the financial sector’s role in strengthening trade relations, noting that as a leading regional banking group in Greece and Cyprus, Eurobank aims to become a key partner for Indian businesses seeking to enter the European Union.

“The potential for cross-border investments between India, Greece, and Cyprus is vast, and the Business Council can play a crucial role in bridging investors with emerging opportunities,” Karavias said.

The launch of the Business Council comes at a time when trade between India, Greece, and Cyprus is experiencing significant growth, fueled by increased investments and political cooperation. The partnership between Eurobank and the Indian Chamber of Commerce further strengthens this momentum, creating a structured framework for economic collaboration and investment facilitation.

The Business Council will focus on promoting sustainable economic growth, aligning with global priorities such as digital transformation, green investments, and resilient trade ecosystems. It will also support SMEs and emerging enterprises, ensuring that businesses of all sizes benefit from the expanded economic corridor among the three nations.

The Business Council will kick off with its initial strategic initiatives, including: trade delegations, business networking forums, and knowledge-sharing platforms.

These efforts aim to ensure that businesses from India, Greece, and Cyprus maximize the benefits of this collaboration, fostering long-term economic partnerships.