UPI To Become Operational In Cyprus From Next Year, Confirms MEA
UPI to launch in Cyprus, boosting India digital expansion.
Cypriot President Nikos Christodoulides is currently on an official four-day State Visit to India from May 20 to May 23, 2026, at the invitation of Prime Minister Narendra Modi. The visit underscores efforts by both countries to strengthen long-standing diplomatic, economic, and strategic relations, with a focus on expanding financial connectivity and cooperation across multiple sectors.
Addressing a special media briefing on the visit, Ministry of External Affairs (MEA) Secretary (West) Sibi George said the engagement is expected to further deepen bilateral ties between India and Cyprus. He highlighted a key development in digital payments cooperation, noting that India’s Unified Payments Interface (UPI) will become operational in Cyprus from next year. According to George, this marks a significant step forward in enhancing financial interoperability and facilitating smoother cross-border transactions between the two countries.
The MEA official also emphasized the growing economic partnership, stating that Cyprus is currently the ninth-largest source of foreign direct investment (FDI) into India and ranks as the second-largest among European Union countries after the Netherlands. He noted that cumulative Cypriot investments in India have reached nearly $16 billion since 2000. These investments span a wide range of sectors, including services, software and hardware, automobiles, manufacturing, cargo handling, construction, shipping, and pharmaceuticals, reflecting a diversified and steadily expanding economic relationship.
Also Read: MEA Confirms Postponement Of India-Africa Forum Summit After Health Review
On the defence and security front, George said maritime cooperation and defence engagement have emerged as key pillars of the India-Cyprus partnership. He added that the Bilateral Defence Cooperation Programme 2026 was signed in Nicosia, establishing a structured framework to enhance collaboration between the armed forces of both nations. This includes expanding training exchanges, strategic dialogue, and maritime security coordination.
President Christodoulides, who currently holds the presidency of the Council of the European Union, also highlighted Cyprus’s role as a reliable bridge between India and the EU. He reiterated strong support for the India-Middle East-Europe Economic Corridor (IMEC), describing it as an important initiative for regional connectivity and economic integration. The visit is expected to further reinforce India-Cyprus relations across diplomatic, economic, and strategic dimensions.
Also Read: India Monitors West Asia Closely, Expands Strategic Gulf Engagement: MEA
