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.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

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.

The Future Forbes Realty Global Properties

Cyprus Remains Among EU’s Lowest Renewable Electricity Producers

by THEFUTURE.TEAM

July 27, 2026

Cyprus remained among the European Union’s weakest performers in renewable energy adoption in 2025, with renewables accounting for 27.5% of gross electricity consumption, according to new data published by Eurostat.

Across the EU, renewable sources supplied 49.9% of gross electricity consumption last year, bringing the bloc close to generating half of its electricity from renewable energy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Cyprus Remains Among The EU’s Lowest Performers

Cyprus ranked among the EU countries with the lowest share of renewable electricity, ahead of only Malta at 11.2%, the Czech Republic at 19.2%, Luxembourg at 23.3% and Slovakia at 24.1%.

Across the country’s broader energy system, renewables accounted for 21.5% of gross final energy consumption in 2025.

EU Renewable Electricity Continues To Grow

Renewables supplied 49.9% of gross electricity consumption across the EU in 2025, up from 47.5% a year earlier. Since Eurostat began collecting comparable data in 2004, the share has risen from 15.9%.

Austria recorded the highest share at 90.8%, followed by Sweden at 89.2%. Denmark generated 77.7% of its electricity from renewable sources, followed by Portugal at 65.6%, Greece at 60.9% and Spain at 60.7%.

Overall Energy Transition Still Has Work Ahead

Renewables accounted for 26.2% of the EU’s gross final energy consumption in 2025, up from 25.2% in 2024 and 9.6% in 2004.

Despite the increase, the bloc remains below its legally binding target of 42.5% by 2030. According to Eurostat, achieving that goal will require an average annual increase of 3.3 percentage points between 2026 and 2030.

Sweden recorded the highest overall renewable energy share at 65.4%, followed by Finland at 53% and Denmark at 48.2%. Belgium recorded the lowest share at 14.9%, followed by Slovakia at 16.3% and Ireland at 17.2%.

Heating And Cooling Also Show Steady Progress

Renewable energy accounted for 27.4% of heating and cooling across the EU in 2025, the highest level since comparable records began in 2004. The share increased by 0.7 percentage points from 2024, slightly below the long-term annual average increase of 0.75 percentage points.

Breaking news