India‑EU free trade deal by year‑end: PM Modi
What's the story
Prime Minister Narendra Modi has announced that India and the European Union (EU) are working toward a free trade agreement (FTA) by the end of this year. The announcement was made during his address at the India-Cyprus CEO Forum in Limassol on Sunday. He also highlighted India's digital revolution, economic growth, and commitment to becoming a global manufacturing hub.
Economic progress
India's rapid economic transformation
PM Modi emphasized India's rapid economic transformation, especially in digital payments and infrastructure. He said, "It has happened after six decades that the same government has been elected for the third consecutive time." The Prime Minister also announced a free trade agreement between India and Greece by year-end. He welcomed the establishment of the India-Cyprus-Greece Business and Investment Council during his address at the forum.
Investment invitation
PM Modi invites Cypriot investors, business leaders
PM Modi invited Cypriot investors and business leaders to explore opportunities in India. He said, "I am happy to know that Cyprus Stock Exchange and NSE (National Stock Exchange) have agreed on cooperation in GIFT City in my home state, Gujarat." The Prime Minister also stressed the importance of Cyprus's investment in India and noted that many Indian companies have established their presence there.