Modi and Christodoulides meet business leaders in Limassol; NSE IX–Cyprus Stock Exchange MoU, UPI tie-up
On 15 June 2025 in Limassol, Cyprus, Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides held a roundtable with business leaders from Cyprus and India.
Summary
Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides held a roundtable with business leaders from Cyprus and India in Limassol on 15 June 2025, on the first day of the first visit by an Indian Prime Minister to Cyprus in over two decades. The leaders welcomed an MoU between NSE International Exchange, GIFT City (Gujarat) and the Cyprus Stock Exchange. NPCI International Payments Limited (NIPL) and Eurobank Cyprus reached an understanding on introducing UPI for cross-border payments. Modi also welcomed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council for trilateral cooperation in shipping, logistics, renewable energy, civil aviation and digital services. Modi described India as the fifth largest economy, well placed to become the third largest in a few years.
Key facts
- Date and place
- 15 June 2025, Limassol, Cyprus
- Visit
- Cyprus, 15–16 June 2025; first by an Indian PM in over two decades
- MoU
- NSE International Exchange (GIFT City) – Cyprus Stock Exchange
- UPI
- NIPL and Eurobank Cyprus: UPI for cross-border payments
- New council
- India–Greece–Cyprus (IGC) Business and Investment Council
Practice MCQs 3 questions
In which Cyprus city did PM Modi and President Nikos Christodoulides hold a roundtable with business leaders on 15 June 2025?
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Correct answer: B — Limassol
PIB (PMO): the roundtable interaction with business leaders from Cyprus and India was held in Limassol.
During PM Modi's Cyprus visit in June 2025, the Cyprus Stock Exchange signed an MoU with which Indian entity?
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Correct answer: C — NSE International Exchange, GIFT City
PIB (PMO): the two leaders welcomed the MoU between NSE International Exchange, GIFT City, Gujarat and the Cyprus Stock Exchange.
Consider the following statements about the India–Cyprus business roundtable of 15 June 2025: 1. NIPL and Eurobank Cyprus reached an understanding on introducing UPI for cross-border payments. 2. An India–Greece–Cyprus Business and Investment Council was launched. 3. The visit was the first ever by an Indian Prime Minister to Cyprus. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB: statements 1 and 2 are correct. Statement 3 is wrong: MEA called it the first visit of an Indian PM to Cyprus in over two decades, not the first ever. So the answer is 1 and 2 only.