During Prime Minister Narendra Modi's visit to Cyprus, he aims to discuss the India-Middle East-Europe Corridor (IMEC) trade corridor with Cypriot leaders. This initiative is seen as a strategic way to enhance trade links between India and Europe, while also countering China's Belt and Road Initiative. Modi's visit signifies a diplomatic outreach to European nations and serves as a statement to Turkey, a rival supporter of Pakistan in recent conflicts with India. Additionally, a memorandum of understanding between India's NPCI and Eurobank is set to facilitate cashless cross-border transactions.
One of the objectives of our discussions is the connection of India with Europe through the region of the wider Middle East, (and) its entry into Europe through the Republic of Cyprus.
The IMEC is widely seen as a counter to China's Belt and Road Initiative, highlighting India's strategic moves in bolstering trade ties with Europe.
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