Cyprus woos India for funds

New Delhi: Cyprus is keen to seek investments from Indian industry in creative industries, tourism and technology sectors.

“There is a great opportunity for promoting creative industries in various sectors from tourism, medical healthcare, Bollywood and technology sectors besides financial  services and innovation  and technology in Cyprus,” said Mr Nicos Anastasiades, the President of the Republic of Cyprus while addressing the banquet organised in his honour by the All India Association of Industries (AIAI) and the World Trade Centre Mumbai last week.

Mr Anastasiades said that Cyprus will offer various incentives and conducive atmosphere to promote these sectors to the investors, who are looking forward to establish bilateral trade relations with Cyprus in these sectors.

The President emphasised that Cyprus is a hub for financial services and added that his government is looking to expand this to various other sectors.

World Trade Centre Mumbai, chairman Kamal Morarka in his welcome address said that historical and economic legacy of India-Cyprus relationship remains strong.

“Economic ties are impressive and are likely to grow exponentially in future.  In India, an avenue in New Delhi is named after the First President of Cyprus Archbishop Makarios and in Cyprus the government installed a bust of Maha-tma Gandhi in the Nicosia Municipal Park near the Parliament House, which is the only bust of a foreign leader in the park, which  shows India's strong ties with Cyprus," said Mr Morarka.