New Delhi, Jun 16: In a groundbreaking move to deepen financial integration between India and Europe, NSE International Exchange (NSE IX), based at GIFT City, Gandhinagar, signed a Memorandum of Understanding (MoU) with the Cyprus Stock Exchange (CSE).

The MoU was formalized during Prime Minister Narendra Modi’s historic visit to Cyprus and witnessed by Nikos Christodoulides, President of the Republic of Cyprus.

Held under the banner of the roundtable event “Advancing a Strategic Economic Partnership” in Limassol, the agreement marks a pivotal step toward strengthening bilateral capital market collaboration.

The MoU sets the stage for mutual cooperation in key areas such as cross and dual listings, development of innovative financial products, research and knowledge exchange, fintech engagement, and capacity-building initiatives.

PM Modi, speaking at the event, said, “I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat’s GIFT City.” His remarks emphasized the government’s continued commitment to positioning GIFT City as a world-class international financial services hub.

NSE MD & CEO Ashishkumar Chauhan described the partnership as “a new chapter in India–Cyprus financial cooperation,” reinforcing the strategic vision of global connectivity. He highlighted that the MoU would pave the way for better investor access, product innovation, and long-term capital market development for both nations.

V. Balasubramaniam, MD & CEO of NSE IX, remarked that the collaboration is a key step toward creating robust cross-border market infrastructure, aligned with the shared vision of enhancing international financial connectivity and delivering long-term value to global investors.

As the MoU unlocks avenues for dual listings and fintech growth, it reflects India’s broader ambition to integrate GIFT City with global financial ecosystems, creating ripple effects across international investor communities.

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