After 20 years, in a historic visit PM Modi held delegation talks with Cyprus President Christodoulides

New Delhi (India) June 17: Indian Prime Minister Narendra Modi's visit to Cyprus, the first by an Indian leader in 23 years, is being considered as a diplomatic gesture towards Turkey, which has controlled a part of the island since 1974.

There are significant strategic implications for India from PM Modi's trip to Cyprus, which is part of his three-nation tour that also includes the G7 conference in Canada, particularly at the time of Pakistan's expanding relations with Turkey.

Prime Minister Narendra Modi underlined his opinion that "this is not an era of war" by stating that both India and Cyprus have voiced their concerns over the ongoing conflicts in West Asia.

Modi emphasized the possibilities for corporate involvement in financial services by describing Cyprus as an important economic partner for India, especially for foreign direct investment. He praised the establishment of the India-Greece-Cyprus Business and Investment Council which aims to promote trilateral collaboration in the fields of digital services, shipping, logistics, renewable energy, and civil aviation.

An MOU was also signed by the Cyprus Stock Exchange and the NSE International Exchange in Gujarat's Gift City to promote cross-border transactions. According to officials, investors in Gift City, Cyprus, and Europe would profit from the deal.

Tanmaya Lal, secretary (West) in the external affairs ministry, said at a media conference that India and Cyprus are investigating the possibility of facilitating cross-border payments through UPI integration.

A memorandum of understanding has also been signed by Eurobank of Cyprus and the National Payments Corporation of India to implement Unified Payments Interface services in Cyprus for cross-border transactions that will benefit businesses and tourists.

According to PM Modi, he and Christodoulides, the president of Cyprus, also decided that the India-Middle East-Europe Economic Corridor will make the way for peace and prosperity in the region.

PM Modi said, "We both expressed concern over the ongoing conflicts in West Asia and Europe. Their negative impact is not confined to those regions alone. We both believe that this is not an era of war. Dialogue, resolution, and the restoration of stability are the call of humanity. We also discussed enhancing connectivity with the Mediterranean region" in a statement.

The talks about improving connectivity with the Mediterranean region were also held. The prime minister also announced that in order to stop the smuggling of weapons, drugs and terrorists, a real-time information exchange system between the Indian and Cyprus authorities will be established.

The highest civilian award in Cyprus, the Grand Cross of the Order of Makarios III, which carries the name of the first President of the country, has been given to PM Modi. The award is given to heads of state and other notable figures in appreciation of their outstanding service to the country.

PM Modi said, "This honour is not just mine, it is the honour of 140 crore Indians. I dedicate this honour to the friendly relations between India and Cyprus and our shared values and mutual understanding" in his acceptance speech.

Aadrika Tayal