India’s UPI to go live in Cyprus from 2027, boosting digital and economic ties
In a major step toward expanding India’s global digital payments network, India’s Unified Payments Interface (UPI) will become operational in Cyprus from next year, the Ministry of External Affairs (MEA) announced on Friday.
The development comes during the four-day State Visit of Cypriot President Nikos Christodoulides to India from May 20 to May 23, 2026, at the invitation of Prime Minister Narendra Modi.
Addressing a special media briefing on the visit, MEA Secretary (West) Sibi George described the move as a significant milestone in strengthening bilateral cooperation and financial connectivity between the two nations.
“UPI will become operational in Cyprus from next year, which is a significant step forward,” George said. The launch of India’s flagship digital payment platform in Cyprus is expected to enhance cross-border financial transactions, promote fintech collaboration, and support growing business and tourism exchanges between the two countries.
The MEA also highlighted the expanding economic relationship between India and Cyprus. Cyprus is currently the ninth-largest source of foreign direct investment (FDI) into India and ranks second within the European Union after the Netherlands, with cumulative investments of nearly $16 billion since 2000.
According to the ministry, Cypriot investments in India span several sectors, including services, software and hardware, automobiles, manufacturing, cargo handling, construction, shipping, and pharmaceuticals.
Defence and maritime cooperation have also emerged as important pillars of bilateral engagement. George noted that the Bilateral Defence Cooperation Programme 2026 was signed in Nicosia, providing a structured framework for enhancing defence collaboration between the two countries.
President Christodoulides, whose country currently holds the presidency of the Council of the European Union, emphasised Cyprus’s role as a strategic bridge between India and the European Union. He also expressed strong support for the India-Middle East-Europe Economic Corridor (IMEC), which aims to strengthen connectivity and trade links across regions.
The expansion of UPI into Cyprus marks another milestone in India’s efforts to internationalise its digital payment ecosystem and deepen economic partnerships globally.
