Modi lauds India’s tax reforms, digital advancements at Cyprus-India business summit

Prime Minister Narendra Modi, in his inaugural visit to Cyprus as Indian premier, highlighted India’s recent tax reforms and digital transformation as key to bolstering the country’s attractiveness to foreign investors.

Addressing a roundtable at the India–Cyprus Business Forum, he underscored how integrated tax systems and digital infrastructure have fostered “trust in doing business” in India.

Modi said these reforms aim to simplify administration and encourage investment by making tax compliance more transparent and predictable.

He emphasized that India is on track to become the world’s third-largest economy, underscoring that economic growth is coupled with creating a business-friendly environment .

He also noted how India’s digital infrastructure—spanning payment solutions, e-governance, and fintech—has bolstered investor confidence and streamlined operations, reducing barriers and costs for domestic and international business .

Strengthening Cyprus–India Ties
Modi’s remarks came amid broader discussions with Cypriot President Nikos Christodoulides and business leaders, where plans were unveiled to provide Cyprus-based businesses better access to the Indian market.

A trilateral initiative involving India, Cyprus, and Greece was also launched to provide coordinated support for startups, finance, and infrastructure under the proposed India-Middle East-Europe Corridor (IMEC).

Marios Tannousis, CEO of Invest Cyprus, along with senior officials from Eurobank and LTIMindtree, spoke about shared interests in fintech, digital banking, tourism, and green technologies.

They reinforced Cyprus’s role as a gateway to the EU for Indian investors and digital enterprises.