‘India to become 3rd largest economy’
NICOSIA, June 16:Prime Minister Narendra Modi was on Monday conferred with the Grand Cross of the Order of Makarios III of Cyprus, the country’s highest civilian honour.
“Humbled to receive the ‘Grand Cross of the Order of Makarios III’ of Cyprus. I dedicate it to the friendship between our nations,” Modi said after receiving the award.
Cyprus President Nikos Christodoulides conferred the award on the Prime Minister.
The Order of Makarios III is the senior order of knighthood awarded by the country named after the first President of Cyprus, Archbishop Makarios III.
Dedicating the award to the 1.4 billion people of India, Modi said it was an award to the trusted India-Cyprus friendship.
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“I am confident that in the time to come, our active partnership will touch new heights. Together, we will not only strengthen the progress of our two nations but also contribute towards building a peaceful and secure world,” the Prime Minister said.
“President @Christodulides conferred PM @narendramodi with the ‘Grand Cross of the Order of Makarios III’ of Cyprus. The honour reflects the enduring India-Cyprus bilateral partnership and shared commitment to work together for the common vision for peace, progress and prosperity,” the Ministry of External Affairs posted on X.
Cyprus’ award brings the total tally of international honours conferred upon the Prime Minister to 23.
Modi noted the award was a recognition of India’s age-old philosophy of “Vasudhaiva Kutumbakam” or “The World is one Family” that guides its vision for global peace and progress, an MEA statement said.
The Prime Minister embraced the honour as a renewed commitment to strengthening and diversifying the partnership between India and Cyprus and emphasised the award was a symbol of the unwavering commitment of the two countries to peace, security, sovereignty, territorial integrity and prosperity, the statement added.
Modi is in Cyprus on the first leg of his three-nation tour.
From Cyprus, he will travel to Canada to attend the G7 Summit and then to Croatia for a bilateral visit.
Meanwhile, Modi said India will soon become the third-largest economy in the world.
Modi made the remarks as he, along with Cypriot President Nikos Christodoulides, attended a business roundtable on Sunday in Limassol, a city on the southern coast of Cyprus.
The Prime Minister highlighted India’s rapid economic transformation in the last 11 years and noted that the country, propelled by next-generation reforms, policy predictability, stable polity and Ease of Doing Business, has become the fastest-growing major economy in the world, the External Affairs Ministry in New Delhi said in a statement.
Emphasising the primacy being given to innovation, digital revolution, start-ups and futuristic infrastructure development, he expressed confidence that India, the fifth largest economy in the world, was well positioned to become the third largest in a few years’ time.
“India will soon become the third-largest economy in the world. India is one of the biggest emerging economies. We have implemented tax reforms, Goods and Services Tax, rationalised corporate tax, decriminalised laws, and are focusing on ‘trust of doing business’, along with ease of doing business.”
He said that steady growth in India’s civil aviation, port, shipbuilding, digital payments and green development sectors has opened myriad opportunities for companies from Cyprus to partner with India, the statement said.
“For the first time in 23 years, an Indian Prime Minister has visited Cyprus, and the first event that has been organised is the business roundtable meeting. This shows the importance of business leaders in the India-Cyprus relationship,” the Prime Minister said.
He also underlined the strengths of India’s skilled talent and start-up ecosystem and highlighted manufacturing, AI, quantum, semiconductor and critical minerals as new and emerging areas contributing to India’s growth story.
“You all (business leaders) are aware of India’s talent and demographic dividend. In the last 10 years, a digital revolution has taken place in India. Around 50 per cent of the world’s digital transactions take place in India, thanks to the Unified Payments Interface or UPI. Countries like France are associated with this, and talks are also underway with Cyprus for this, and I welcome this move,” he said.
Prime Minister 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.
Modi highlighted the “immense potential for growth” in bilateral ties.
Cyprus has been a “reliable partner to India for a long time now,” he said. (PTI)
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