Indian Council of World Affairs

Honorable Minister Jaishankar,

Your Excellencies,

Distinguished Guests, Ladies and Gentlemen,

Namaste,


It is a real and profound honour to be addressing you today. The Indian Council of World Affairs has a reputation that is stellar. A reach that is global. And an impact on polling that is transformative.

The Institution has a long history. I am a great believer in tradition as a compass for navigating and setting a course. And also adjusting it.

The list of speakers that you have hosted through the decades is full of individuals that have morphed international affairs. Thinkers, shapers, visionaries, doers. These are characteristics that are rarely correlated in a single person.  

My counterpart, Minister Jaishankar (Τζαϊσανκάρ) is such a rare example. And his presence here today has added to the pressure!

And I have a confession to make: When I was informed that he will be here, I rewrote my speech!

I am thus, attempting to use this opportunity as an expansion of our dialogue. As the revealing of Cyprus’ thought process, adjusted to an audience and a country that is so different. And unique.

India is a global powerhouse. This is a fact. India is a Megatrend. With the richest of history and culture, and with potential that is unrivaled. This is a fact.

With these facts in mind, I would like to offer some insights of the role of “Cyprus in the World”. Two structural parameters in doing so:

First: an assessment as to how the world looks right now. As it is, not as we would like it to be.

Second: Cyprus’ view and approach factor in an inevitable comparison. That is tailored, for today’s purposes, with reference to India.

There is, and rightly so, an underlying dual question: Why Cyprus? And by extension, how can Cyprus and India be partners?

Allow me to start by sketching a synopsis of the world view.

We are meeting here, today, in the midst of a situation, a polycrisis, the effects of which are making no exception as to their reach.

There is no insularity. No immunity. And at substance, no uniform impact either.

We went through the global financial meltdown, the Covid crisis, the energy and inflation spike.

The war in Ukraine, after Russia’s illegal invasion and continuing aggression. The questioning of the founding principles of the International Order and system.

The ongoing situation in Gaza, is another challenge. The risks involved in Syria.

The threat in the Red Sea.

Iran’s nuclear aspirations. Sudan, Libya, the African continent.

Radicalism, extremism and terrorism are a reality.

As is the instrumentalization of migration.

Populism is on the rise.

Above all, there is uncertainty as to the direction of the global system.  

The competition for resources is not new.

The battle for influence, neither.

But the current approach to such issues is not a passing phenomenon. It is here to stay.

And until the world system adjusts, we are in a period of transformation.

Let us not be naïve, thinking that this is a temporary phase.

The political landscape has changed.

And the new order is being formed as we speak.

Noone is willing to act as the insurance policy for the security of the system.

We must all do that. Alone and together.

And in this, there is opportunity.

Supply chains, culpability, connectivity, crisis management, all these are the Renewed Reality.  We are witnessing the return of History. And its Back to the Future moment, has a lot to do with geography.  

At a time marked by fragmentation, instability and uncertainty, Cyprus believes in building networks of cooperation rather than walls of division.

Despite the division we have been facing for more than a half a century. Of highlighting one’s value.
Because no one has the luxury of sideling added value.

Cyprus is defined by Geography.
As a consequence, it has always been part and parcel of the historical transformative forces that shaped the political landscape of the Easten Mediterranean.

But we also paid and continue to pay a price for that. A certain neighbour, all powerful and ambitious, driven by and not shy in resorting to the use of force, is ever present. But, yet, here we are, surviving. Capitalising on our comparative advantages.

As a member of the European Union, the United Nations, the Commonwealth, and a country with deep historical and cultural ties to the Eastern Mediterranean, Cyprus serves as a unique platform for dialogue and partnership.

With an economy that is booming – statistics:

• Economic growth: 3.4% (2024);
• Public debt: declined to 65% of GDP (2024)
• Unemployment: 4.9% (2024).

With an economy that is diversified:

• Commercial fleet // shipping: CY has a robust and dynamic shipping industry with one of the largest fleets in the world, hosting hundreds of shipping companies. It contributes over 7% to CY’S GDP.
• Fintech - 19%
• Tourism
• Defence Industry
• Global center for services
• With excellent diplomatic relations with the region.

Pragmatism is the new term.

Transactionalism the catch phrase.

The trade antagonism; the tariffs, all are elements of the Renewed reality.

But also an impetus for opening up new trade routes and alliances.

This is about ambition, vision, strategy and action.

India has a clear Action.

And may, I say, so does Cyprus.

I am approaching this from the perspective of a small state.  

Cyprus is among the top 10 foreign investors in India, with cumulative investments of approximately USD 14 billion between 2000 and 2024. These inflows have focused on key sectors such as information technology, pharmaceuticals, and real estate.

So in this context, how can Cyprus, as a small state, operate? The answer is not straightforward. There is nonetheless a bundle of premises and realisations that are useful in providing an answer.

First, there are practical political consequences from the material inequality of states. Yes, we are all formally equal in the eyes of public international law.

But pragmatism, this defining kaleidoscope points to a different picture. One where power, size, population, resources, economies, these are the defining elements. These are the factors influencing international events and developments. And for a verification of these we can again make use of the example here in Cyprus.

We have an aggressor, an invader, an occupier, which at the same time is being a really sought after ally and friend. So there is a discrepancy in the eyes of public international law and the cynicism of diplomatic activity.

Secondly, we need to differentiate between how small states see the world and how the world sees the small states. These are not necessarily the same.

The research has focused as much as it has on the former, an internal point of view from the small states perception. The research has been affected by this. During the Cold War, the emphasis was on defining what is a small state. How size or resources, or other criteria impact on foreign policy decisions and on how a state positions itself during the Cold War.

Also, we had the discussions about how small states can be the target for colonialism, or avoiding being the target because they are relevant.

Then you have the debate focusing on how small states can be pulled into the existing antagonism between the mega powers.

Then, after the collapse of the communist regimes, for how these states emerge, re-emerge into the international scene, fully independent, then the globalisation phenomenon and how that impacts on the small states, and finally how the EU, through integration, is trying to bring these states closer to the Western political values, and how the European integration can be the answer to ethno-political conflicts.

An internal point of view, from the perspective of the small states, is a useful guide on how to navigate dark waters. There is always of course the risk of seeing the world how we would like the work to be. For small states, this is dangerous. World history, as my Singaporean counterpart has eloquently stated, is full of the carcasses of small states.

Third: the modus operandi of small states is different than that of others. Let's take the example with our experience within the EU.

The way we negotiate, the way we see the relation with the Commission, the way we negotiate with the other member states in the Council, these are different methods than what the big players are using.

For the smaller states, negotiations are a very different ballgame because for a very simple reason, we don't have the leverage. That is a critical factor. That doesn't necessarily mean that they don't have the negotiating skills.

I believe, on the contrary, that we have developed skills in negotiation that are extremely valuable and useful, and possibly there are elements there in terms of providing lessons to be learned for others as well. Negotiating without leverage is an art, and we all have managed, I believe, to master that skill.

We are still here in the midst of all of these crises that I'm describing.

So the critical question: how do you create space political, economic, diplomatic, by being enterpreneurial, by forming alliances, by being reliable and useful, by surprising others with your initiatives. Example of Nordic countries. They have been described as the leader in norm setting in various fields.

A shining example of opening the path is sustainable development standards and environmental protections, the social state, gender equality.

Malta has led the way in making UNCLOS the Constitution for the oceans, a term coined so eloquently by the then Perm Rep of Malta to the UN in November 1967, Arvid Parto, a name that we all should know.

Therefore, small states are often underestimated. This, of course, is an advantage it enables surprising when you can showcase interesting initiatives, and when we can synchronise the needs of the big players with the political situation on the ground.

Allow me to make a reference here to an example from Cyprus.

In the recent months after the October 7th attacks and what's happening in Gaza, we all in the European Union identified the urgent need for humanitarian aid flowing into Gaza at scale. There are difficulties. There have been problems. We have developed, proposed and tabled our own initiative.

The maritime corridor, the Amalthea plan, something that for which I have shared all the reasons why it cannot happen, why it shouldn't happen, and why this is impossible to happen. Yet it did. And this is about proving, managing to prove that the idea can materialise because of geography and because of the relations with the neighbouring countries.

This is an initiative that the EU could be doing more in supporting. But we have been doing it and are continuing to do it with partnership from many other countries. Malta is one such example in the recent voyage. The UAE, the UK, the US and others. So as more countries took the initiative for a conflict that is so critically politically charged in our national public opinions to try and do something rather than observe.

We also had the opportunity to providing the necessary infrastructure and implementing our national plan for the evacuation of third country nationals for areas of danger.

We have evacuated people from Sudan, Lebanon, Israel, Iran as well, we have been active in this front, and we have acted as a safe harbour.

Once again in the midst of crisis, we provided the opportunity for others to make use of our geography and our relations.

So, small states can be active persuaders. Institutional engagement is one such opportunity.

One can look at the EU, the UN Security Council, yes, there are five permanent members of the Security Council, which much change, but most of the other countries had the opportunity to participate in that body and call, define and call for public international law and the norms for international relations.

Another example is the contribution to democracy by Switzerland. Now, one could be thinking is this a small country? As I tried to explain its a relative term most of the time.

Singapore. Another excellent example of a country that has turned vulnerability into leverage by using its geography and its amazing internal political stability and structure.

As it has been written, the distinction between small and great, doesn't necessarily coincide with the distinction between strong and weak. internal organisation. National innovation. Versatility and usefulness. All these can be reasons for creating usefulness for others. And this is also something that carries weight into negotiations.

Resources are of course hugely important, as is geography. One can look at the small states in the Gulf. Their leverage, their influence is not comparable to others because they have specific advantages. Yet at the same time, we should all be aware that we have our own competitive advantages.

We have seen also how the political analysis by small states is extremely insightful. The example of Singapore again. My colleague has recently stated in an interview that we can explain what's happening in the US.

If we look at the numbers, the numbers were showing that the United States was underwriting the security of the international order, while at the same time, after the Second World War, their share of the global GDP was 40%. So we are all at the same time financing and underwriting security. Now the GDP percentage is down to 26%.

So one could reasonably reach the conclusion that they could be asking the question, why should we be paying for the others? This is an insightful analysis, and the insightful analysis doesn't necessarily come exclusively from the big states.

So there are lessons to be learned, and we should all be trying to increase our bandwidth. We have to be cautious, but we also have to be adventurous. We have to increase our coordination by focusing on the lessons learned.

Dear Friends,

During the Cold War, it was said that Cyprus had the potential to become an ‘unsinkable aircraft carrier’.

Our policy is to employ this geographical potential in more constructive and positive ways. To serve as a safe haven, an island of stability, and a forward base of humanitarian evacuations from warzones in the region. 

Thousands of EU and third country nationals were safely and promptly evacuated from those flashpoints via Cyprus to their home countries.

One of our key aspirations is to serve as a bridge between regions, a “regional convenor”.

And a whisperer for friendly countries in Brussels.

In an era where connectivity defines power, Cyprus offers strategic advantages:

• As a financial and legal hub within the EU, connected to the Middle East, North Africa and beyond.
• As part of regional trilateral partnerships — for example, with Greece and Israel, Egypt and Jordan. Advancing cooperation in energy, and security.
• As a platform for dialogue between Europe and Asia. We believe that Cyprus can contribute to the growing interaction between Europe and the Indo-Pacific, between the Mediterranean and the Indian Ocean, and between the EU and the Global South.

In this dynamic paradigm, we perceive India as a natural interlocutor.

Today, with India emerging as a leading voice in an increasingly multipolar world — Cyprus sees in India not only an old friend but also a partner for future cooperation.

Both nations, shaped by a legacy of colonial rule, have emerged as modern democracies that cherish freedom, sovereignty, respect for international law and the rule of law.

As states with strategic geographies, we understand the value of balance, diplomacy, and a rules-based order in global affairs.

Over the decades, Cyprus and India have consistently supported one another in international for a, reflecting the trust and friendship that underpin their relationship.

India has been a firm supporter of Cyprus’ independence and sovereignty for decades, while Cyprus has been a steadfast advocate for India’s rightful role in global governance. All these aspects have led to the relationship between Cyprus and India becoming a strategic one.

The visit of Prime Minister Narendra Modi to Cyprus in June 2025 marked a historic milestone in our partnership.

It provided the launch pad for future collaboration in political dialogue, trade and investment, energy, technology, and cultural exchanges.

Practical steps have already been taken towards the realization of this potential, underscoring the seriousness with which both governments approach the relationship.

The five-year Joint Action Plan (2025-2029) agreed between Cyprus and India, constitutes a roadmap for the implementation of the Joint Declaration adopted in June 2025 during the visit of PM Modi to Cyprus. It set short, medium, and long-term goals in main areas of co-operation, including, inter alia, defence, trade and business, innovation and technology sectors.  progressing.   

A crucial platform for cooperation is the India-Middle East-Europe Economic Corridor (IMEC). A visionary proposal that can transform connectivity between our regions, a geopolitical gambit with the potential to reshape trade routes and critical economic activities, fostering transformative cooperation.

The Mediterranean region is a key component of IMEC, and Cyprus is well-positioned to play a role in this emerging architecture.

As a gateway into and out of Europe, Cyprus is uniquely located to serve as a hub, a secure, direct portal into the European Union.

A lynchpin of regional connectivity, rendering us a strategic force multiplier for IMEC’s long-term success.

In this ambitious connectivity vision, Cyprus sees its potential not only in economic terms, but as a strategic counter-narrative to fragmentation.

Being a member of the European Union, Cyprus is committed to strengthening the EU–India partnership, and our upcoming Presidency of the Council of the European Union (in the first half of 2026), provides an opportunity to inject new dynamism into this relationship.

Equally important is the economic pillar of the relationship.

Cyprus strongly supports the conclusion of the long-negotiated Free Trade Agreement (FTA) between the EU and India.

The successful conclusion of this agreement would not only strengthen EU-India ties but also unlock immense economic opportunities for Cyprus, India, and the broader European family. It will send a powerful message about the shared commitment to prosperity, innovation, and sustainable growth.

Ladies and Gentlemen,

Our world today is in an undeniable state of flux.

As we navigate a world of increasing polarity and complexity, Cyprus remains committed to being a responsible, engaged, and outward-looking state.

We look to the future with the knowledge that our global partnerships matter — and that few matter more than the one we share with India.

From historical solidarity to contemporary cooperation, from shared values to shared aspirations, Cyprus and India are charting a course together that is both strategic and forward-looking.

This organic partnership has the potential to yield results fitting of the deep and historical foundations upon which it rests.

And I conclude with two short quotes.

One by the U.N. Secretary-General Kofi Annan in 1998, when he said it is easy for small nations to feel daunted by the global forces at work.

My long experience at the UN has shown me that the small states of the world are more than capable of holding their own.

The second quote is from an author back in 1969 when he wrote, if Lilliputians can tie up Gulliver or make him do their fighting for them, they must be studied as carefully as a giant.

Thank you.

*****