NSE International Exchange At GIFT City Signs MoU With Cyprus Bourse - What’s In It For Global Investors?

The NSE International Exchange at GIFT City, Gandhinagar, in a move to expand cross-border investment opportunities and strengthening economic ties, has signed a Memorandum of Understanding (MoU) with the Cyprus Stock Exchange (CSE) on Monday.

What Is The Purpose Of This Agreement?

This agreement paves the way for dual listings as well as enhanced collaboration in outreach programmes and financial research.

How Will This Benefit Global Investors?

This MoU will create new investment corridors between India and Europe, allowing European companies to tap into India's growing capital markets through the GIFT City platform.

This agreement will also give Indian and Cypriot investors a broader access to financial instruments as well as improved market connectivity.

According to an ANI report, Ashish Kumar Chauhan, the Managing Director and CEO of the National Stock Exchange referred to the agreement as a major milestone.

He said that the "NSE International Exchange at GIFT City, Gandhinagar, which is India’s face to the world, and Cyprus Stock Exchange, to do dual listing as well as research and outreach programmes on various financial instruments to create collaboration between European companies and GIFT City, Gandhinagar. This is going to open a new chapter in Cyprus-India relations going forward."

Consequently, companies operating in Cyprus will gain visibility and access to capital from Indian markets through the NSE International Exchange.

Additionally, Indian investors will also benefit from a broader range of global investment opportunities.

Prime Minister Narendra Modi, at the Roundtable interaction also noted that Cyprus was a significant economic partner for India, particularly in the Foreign Direct Investment sector and welcomed the keen interest in Cyprus for new investments into the Indian economy.

Under the MoU, NIPL (NPCI International Payments Limited) and the Eurobank Cyprus reached an understanding on introducing UPI for cross border payments between the two countries which would benefit tourists and businesses.

Additionally, PM Modi also welcomed the launch of the India-Greece–Cyprus (IGC) Business and Investment Council, which will foster trilateral cooperation in sectors such as shipping, logistics, renewable energy, civil aviation and digital services.

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