National
PM Modi and Cyprus President Christodoulides Engage with Business Leaders from Both Nations
“President Christodoulides and I engaged with top CEOs to enhance commercial ties between India and Cyprus. There is tremendous potential in sectors such as innovation, energy, and technology. I also shared insights into India’s reform journey over the past decade,” the Prime Minister noted in a post on X. —
The attendees came from various fields, including banking, finance, manufacturing, defense, logistics, maritime, shipping, technology, digital services, AI, IT, tourism, and mobility, as detailed in a government release.
Highlighting India’s rapid economic evolution over the last 11 years, the Prime Minister pointed out that, driven by next-generation reforms, stable government, and improved Ease of Doing Business, India has emerged as the fastest-growing major economy globally.
Stressing the focus on innovation, digital transformation, startups, and advanced infrastructure development, he expressed confidence that India, currently the fifth-largest economy, is on track to become the third-largest within a few years.
He mentioned that consistent growth in civil aviation, ports, shipbuilding, digital payments, and green technologies have created numerous opportunities for Cypriot companies to collaborate with India. He also highlighted India’s skilled workforce and robust startup ecosystem, identifying manufacturing, AI, quantum technology, semiconductors, and critical minerals as key growth areas.
“Cyprus is a vital economic partner for India, especially in the Foreign Direct Investment sector, and I welcome its enthusiasm for investing in the Indian market,” the release noted.
The two leaders also recognized the potential for collaborations in the financial services sector and welcomed the signing of a Memorandum of Understanding between NSE International Exchange in GIFT City, Gujarat, and the Cyprus Stock Exchange.
Additionally, NIPL (NPCI International Payments Limited) and Eurobank Cyprus reached an agreement to introduce UPI for cross-border payments, benefiting tourists and businesses alike.
The Prime Minister praised the establishment of the India–Greece–Cyprus (IGC) Business and Investment Council, which aims to enhance cooperation in shipping, logistics, renewable energy, civil aviation, and digital services.
He also acknowledged that many Indian companies view Cyprus as a gateway to Europe and a hub for IT services, financial management, and tourism.
As Cyprus prepares to take the Presidency of the EU Council next year, both leaders expressed their commitment to strengthening the India-EU Strategic Partnership. They expressed optimism about concluding the India-EU Free Trade Agreement by year-end, which would significantly boost trade and economic collaboration.
The Prime Minister emphasized that the roundtable generated practical recommendations that will shape a structured economic roadmap, ensuring long-term collaboration focused on trade, innovation, and shared strategic goals. With a future-oriented approach, India and Cyprus are set to embark on a new chapter of dynamic economic cooperation.
Noida: A man died by suicide after jumping from the 43rd floor of the Supernova Tower in Noida on Saturday.
The incident took place at the Supernova complex in Sector 94. A video shows the man standing near the railing before jumping. Another person tried to stop him but could not prevent the incident.
Police identified the deceased as Sambhav Jain, a resident of Manesar, Haryana. He had reportedly checked into an Airbnb in the building on Friday and was scheduled to leave on Saturday.
Police said Jain had called his father several times before the incident. His family has been informed.
The police and forensic teams inspected the spot and collected evidence. CCTV footage is also being checked as part of the investigation.
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Police said Jain was reportedly under severe financial stress. His body has been sent for a post-mortem examination.
The investigation is underway.
New Delhi: Prime Minister Narendra Modi spoke to Captain Smit Machchhar over a video call and praised his courage after he helped prevent a major air disaster.
Captain Machchhar was seriously injured after his co-pilot allegedly stabbed him during a flydubai flight from Dubai to Tel Aviv on Wednesday. The Boeing 737 MAX reportedly lost nearly 14,000 feet in less than 30 seconds.
Passengers and crew members entered the cockpit and overpowered the co-pilot. A second pair of pilots then took control and safely landed the aircraft in Tabuk, Saudi Arabia. More than 170 passengers and crew were on board.
Speaking from his hospital bed, Captain Machchhar told PM Modi that he was badly injured and had collapsed in the cockpit. He realised that the aircraft was rapidly losing altitude and that he had to act.
“I could not let all those people die,” he told the Prime Minister.
Captain Machchhar said his 17 years of flying experience helped him understand what was happening to the aircraft. He managed to open the cockpit door, after which passengers and crew came to his help.
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He also said he was chanting the Hanuman Chalisa while fighting the pain and fear.
PM Modi praised the captain’s courage, patience and presence of mind. He said Captain Machchhar’s actions helped save many lives and called his effort a “monumental task.”
Captain Machchhar, who is from Gujarat, has more than 9,750 flying hours and has served as a captain for 11 years.
Gandhidham: India has taken a major step towards green shipping with the foundation stone laid for the country’s first port-based e-methanol production facility at Kandla in Gujarat.
Gujarat Chief Minister Bhupendra Patel, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, and Assam Chief Minister Himanta Biswa Sarma laid the foundation stone at the Deendayal Port Authority (DPA) on Saturday.
The Rs.2,300-crore project is a joint initiative of the Deendayal Port Authority and Assam Petro-Chemicals Ltd. The plant will produce 150 tonnes of e-methanol every day using renewable power, water and biogenic carbon dioxide.
E-methanol is considered a cleaner alternative fuel for the shipping sector. The facility will supply green fuel to ships operating on the Asia-Europe trade route.
The project will be developed in two phases. The first phase will have a production capacity of 50 tonnes per day and involve an investment of Rs.1,200 crore. It is expected to be completed by January 2027.
The second phase will add another 100 tonnes per day at an estimated cost of Rs.1,100 crore. It is targeted for completion by March 2027.
The Deendayal Port Authority will hold a 76 per cent share in the project, while Assam Petro-Chemicals Ltd will have a 24 per cent stake. DPA will provide Rs.567.32 crore as equity, along with 75 acres of land, desalinated water and renewable energy support.
The project is expected to create more than 3,500 direct and indirect jobs. It will also support activities such as transportation, storage and supply of green fuel around Kandla.
Speaking at the event, Bhupendra Patel said Gujarat’s coastline would play an important role in supplying green energy to the world. He described Kandla as a future gateway for India’s green energy exports.
Sarbananda Sonowal said the project marked another step in India’s growing maritime ambitions. He said Kandla could develop into a major green-fuel hub on the Singapore–Rotterdam shipping route.
Himanta Biswa Sarma said Assam would contribute to India’s clean energy transition through its natural resources and industrial strength. He described the project as an example of cooperation between Assam and Gujarat.
The facility is expected to support India’s long-term goal of achieving net-zero emissions by 2070. It is also linked to the government’s focus on energy self-reliance and the Make in India initiative.
The government is also working to strengthen India’s maritime sector. It has set a target of adding 100 new ships to the country’s merchant fleet over the next five years.
Several other maritime projects are also being developed in Gujarat, including a Rs.1,520-crore shipbuilding project at Vadinar and a proposed shipbuilding and repair cluster at Kuchhadi in Porbandar.
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Kutch MP Vinod Chavda, Gandhidham MLA Maltiben Kishor Maheshwari, Assam government representatives, officials of Assam Petro-Chemicals Ltd and DPA Chairman Sushil Kumar Singh were among those present at the foundation stone ceremony.
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