Elias Neocleous & Co LLC recently participated as panellists in the Horasis India Meeting, which took place in Athens, Greece, from 15-16 September. The event, organised by Horasis, an independent international think tank based in Zurich, Switzerland, was supported by Eurobank as a strategic partner. Eurobank’s involvement was instrumental in ensuring the event’s success, reflecting its commitment to advancing cross-border economic collaboration and investment opportunities, particularly between India, Greece, and Cyprus.
The firm contributed to the panel discussion titled “Greece-Cyprus: Gateways of India to Europe”, exploring the pivotal role of Greece and Cyprus as strategic entry points for Indian businesses into the European market.
Representing Elias Neocleous & Co LLC on the panel were Motaher Chowdhury, Head of India Desk, and Elias Neocleous, Managing Partner. The panel featured experts from Cyprus, Greece, and India, who discussed how Indian firms are embracing these opportunities and the support required to facilitate their growth worldwide. With India emerging as one of the fastest-growing major economies in the world, the discussions showcased how Greece and Cyprus can act as reliable partners in this growth, providing a natural gateway for both inbound and outbound Indian investments.
The full list of panellists included:
- Motaher Chowdhury, Senior Associate and Head of India Desk, Elias Neocleous & Co LLC, Cyprus
- Demetris Eliades, Senior Manager, International Business Banking, Eurobank Cyprus
- Samrendra Mohan Kumar, Co-founder and Managing Director, MitKat Advisory, India
- Elias Neocleous, Managing Partner, Elias Neocleous & Co LLC, Cyprus
- Chrysilios Pelekanos, Chairman, Cyprus India Business Association
- Niraj Sharan, Chairman and Chief Executive Officer, Aura – a JCBL Group Company, India
- Ms. Lia Riris, Deputy Director General, Invest Cyprus
- Ameya Prabhu. President, Indian Chamber of Commerce
The panel was Moderated by
- Foivos Karzis, Journalist, Greece
The key highlight of the two-day event was the exploration of the deep cultural and economic ties between India, Greece, and Cyprus. In his address, Mr. Elias Neocleous emphasised Cyprus’s strategic role as a gateway for Indian firms seeking access to European markets. In addition to its status as an EU member state, Cyprus offers a robust legal framework, favourable double tax treaties, and streamlined corporate structures, which significantly simplify the process of establishing a European base. He further noted how the common law system and the presence of English-speaking professionals makes Cyprus an ideal environment for Indian businesses.
Cyprus’s emerging identity as a “Tech Island” was also emphasised, showcasing the concerted efforts being made to position the island as a compelling destination for technology-driven enterprises seeking growth opportunities in the region.
Mr. Motaher Chowdhury candidly shared his insights on navigating the complexities of investment outflows and inflows from India via Cyprus. His experiences underscored the importance of understanding cross-border financial intricacies and cultural dynamics, offering valuable lessons for legal practitioners in the investment landscape.
The event also celebrated the strong and enduring partnership between Cyprus and India, which is rooted in mutual trust and collaboration, particularly in international organisations. Notably, in 2022, the two nations celebrated 60 years of diplomatic relations, and their economic ties have steadily grown. Cyprus ranks among the top 10 investors in India, with $14 billion invested from April 2000 to June 2024. India’s exports to Cyprus also increased from $116 million in 2017 to $118 million in 2022.
A significant milestone in their partnership was reached in June 2021 when India’s Ministry of Finance classified Cyprus as a ‘Category I’ FPI jurisdiction. This opened the Indian market to Cyprus-based funds, further solidifying Cyprus as a global fund hub that adheres to EU regulations. With competitive costs and a thriving tech sector that has attracted global ICT multinationals, Cyprus has become an appealing destination for investors. It also serves as a gateway for investments between India and Europe, Asia, and Africa, supported by its common law system, which is familiar to Indian investors.
The discussions throughout the event were highly insightful, particularly regarding the transformative impact of geopolitics, technology, climate change, and artificial intelligence on international business practices and leadership strategies. It not only highlighted the growing opportunities for India on the global stage but also how Greece and Cyprus can be trusted allies in supporting and fuelling this growth through strategic partnerships and investment channels.
For more information on this news, or to learn how our firm can assist you with your India-related activities, please speak with Motaher Chowdhury, or your usual contact at Elias Neocleous & Co LLC.
