External Affairs Minister S Jaishankar on Friday told investors in Cyprus that India is on the path of becoming a manufacturing hub for the global community and intended to become a USD 5 trillion economy by 2025.
Addressing a business event organised by the High Commission of India in Cyprus, Jaishankar said New Delhi and Nicosia had a lot of potential to increase the bilateral trade between the two countries.
Jaishankar who is on a three-day visit to Cyprus, while addressing the business event said India and Cyprus last year had bilateral trade of about USD 214 million and were confident to reach the last year’s figure much earlier this year.
He said India and Cyprus had an active institutional mechanism in economic cooperation.
The minister stressed that Cyprus is the 10th largest investor in India with an accumulative investment of USD 12 billion during the last 20 years.
India exported pharmaceutical products such as…