Marking a significant expansion of India's digital payment footprint abroad, India's Unified Payments Interface will be launched in Cyprus next year, the Ministry of External Affairs said.
Cypriot President Nikos Christodoulides is on an official four-day State Visit to India from May 20 to May 23, 2026, at the invitation of Prime Minister Narendra Modi.
Addressing a special briefing on the visit of Christodoulides, MEA Secretary (West) Sibi George said the move would further deepen bilateral ties and financial connectivity. “UPI will become operational in Cyprus from next year, which is a significant step forward,” news agency PTI quoted George as saying.
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Highlighting the growing economic partnership, the MEA official noted that Cyprus is the ninth-largest source of foreign direct investment into India and the second-largest within the European Union after the Netherlands, with cumulative inflows of nearly $16 billion since 2000.
According to the MEA, Cypriot investments span sectors including services, software and hardware, automobiles, manufacturing, cargo handling, construction, shipping and pharmaceuticals.
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George also said defence and maritime cooperation have emerged as key pillars of India-Cyprus engagement.
He added that the Bilateral Defence Cooperation Programme 2026 was signed in Nicosia to provide a structured framework for expanding defence ties between the two nations.
Holding the presidency of the Council of the European Union, President Christodoulides emphasized Cyprus's role as a reliable bridge connecting India and the EU. He also voiced strong support for the India-Middle East-Europe Economic Corridor (IMEC).
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