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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; 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India, Cyprus sign six agreements to strengthen ties across mobility, innovation, education
BL New Delhi Bureau · 2026-05-22 · via Economy News, Latest Economic News Today | The HinduBusinessLine
Prime Minister Narendra Modi with President of the Republic of Cyprus Nikos Christodoulides in New Delhi on Friday

Prime Minister Narendra Modi with President of the Republic of Cyprus Nikos Christodoulides in New Delhi on Friday | Photo Credit: SUSHIL KUMAR VERMA

India and Cyprus signed six agreements on Friday, including one on a Comprehensive Framework of Cooperation on Mobility, for easier movement of skilled workers and students.

In their bilateral consultations on Friday, Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides elevated their ties to a strategic partnership and unveiled a five-year roadmap for defence cooperation 

“Welcoming the signing of the MoU on Comprehensive Framework of Cooperation on Mobility and the launch of a pilot European Union Legal Gateway Office in India, the Leaders noted its role in promoting legal pathways for movement of professionals, skilled workforce and students and strengthening people-to-people ties between India and the EU,” per a joint statement issued after the bilateral meeting.

The agreements signed by the two sides also include ones for deeper cooperation in areas of innovation, technology, education, culture as well as a joint working group on counter-terrorism.

Modi and Christodoulides also highlighted the opportunities that will arise through the implementation of the historic India-EU FTA concluded earlier this year and implementation of the ambitious India-Middle East-Europe Economic Corridor.

“Cyprus not only currently holds the Presidency of the European Union Council but is also emerging as an important investment gateway between India and the whole of Europe,” Modi said.

“Cyprus is one of India’s top 10 investors; over the past decade, investment from Cyprus to India has almost doubled. Trust has grown between the two countries,” he added.

Strategic tie-up

Modi noted in his statement that the strategic partnership will unlock commercial capital and open new avenues for Indian companies in Cyprus’s infrastructure, energy, and agriculture sectors, while simultaneously boosting investment in India’s booming shipping and maritime industries.

“The relationship between India and Cyprus has stood the test of time time and again, with today’s decision to upgrade the ties to strategic partnership, we are going to give new ambition and new momentum to our relationship,” he said.

Modi said Indian professionals and students living in Cyprus are strengthening ties between the two countries and the two sides would soon conclude a comprehensive Migration and Mobility Partnership, as well as a Social Security Agreement.

Published on May 22, 2026