Cyprus is stepping up efforts to position itself as a gateway for Indian businesses expanding into Europe, a vision that is starting to take shape both strategically and on the ground.

The initiative, backed by the state, Invest Cyprus and the Cyprus-India Business Association, has also become a core part of Eurobank’s investment strategy following its full acquisition of Hellenic Bank.

Beyond strengthening its footprint on the island, Eurobank is aiming to turn Cyprus into a launchpad for companies from India and the wider Middle East seeking access to EU markets.

As part of this approach, the group is proceeding with plans to open a representative office in Mumbai, to deepen ties with Indian businesses and support entrepreneurs and investors looking to scale their operations in both directions.

The vision is already attracting attention. According to a report from InBusinessNews, Thomas Cook India has established a presence in Cyprus through the incorporation of Travel Circle International (Cyprus) Ltd, a wholly owned subsidiary set up in Nicosia earlier this year, with plans to begin operations at a later stage.

The Cypriot outlet also reported that Indian tech giant LTIMindtree has entered into a long-term partnership with Eurobank to modernise the group’s technology infrastructure, including its operations in Cyprus, Luxembourg and Greece.