India-Greece-Cyprus Business Council (IGC) Officially Launched

by THEFUTURE.TEAM

February 13, 2025

The India-Greece-Cyprus Business Council (IGC) was officially launched at the prestigious Taj Mahal Palace in Mumbai, marking a significant milestone in enhancing economic relations among the three countries. This initiative follows the Memorandum of Understanding (MoU) signed in September 2024 between Eurobank and the Indian Chamber of Commerce (ICC).

Launch Ceremony And Key Attendees

The ceremony was attended by representatives from the Greek and Cypriot embassies in India, as well as prominent business leaders. Notable attendees included Mr. Abhyuday Jindal, President of the ICC and CEO of Jindal Stainless Ltd., and Mr. Fokion Karavias, CEO of Eurobank.

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New Opportunities In Trade And Investment

The IGC aims to establish a robust business platform to foster strategic cooperation in sectors such as infrastructure, shipping, technology, financial services, and small and medium-sized enterprises (SMEs). With India’s growing economic influence and Greece and Cyprus serving as key gateways to Europe, the council seeks to enhance cross-border trade, investment, and political ties.

Mr. Abhyuday Jindal emphasized the importance of this collaboration, stating:
“This partnership reflects the shared vision of India, Greece, and Cyprus for economic growth. The IGC will be a catalyst for new business opportunities, especially in infrastructure, technology, renewable energy, and shipping.”

The Role Of The Banking Sector

Eurobank’s CEO, Mr. Fokion Karavias, highlighted the importance of the banking sector in facilitating trade, noting:
“Eurobank aims to serve as a key partner for Indian businesses seeking to expand into the European Union. The IGC will be a bridge for investors looking for new opportunities.”

Sustainable Development And Future Initiatives

The IGC focuses on modern global economic priorities, including digital transformation, green investments, and the creation of resilient trade ecosystems. It will also focus on supporting SMEs and start-ups, ensuring that companies of all sizes benefit from this collaboration.

The IGC’s initial strategic actions include trade missions, business forums, and knowledge exchange platforms designed to maximize opportunities for cooperation between India, Greece, and Cyprus.

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Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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