Mumbai, 16 June 2025: At the Business Roundtable Meeting in Cyprus, Prime Minister Shri Narendra Modi highlighted GIFT City as a rising global financial hub. He welcomed the collaboration between NSE and the Cyprus Stock Exchange at GIFT City, encouraged deeper tourism cooperation and applauded the formation of the India–Cyprus–Greece Business and Investment Council as a key step toward stronger economic ties.
Shri Ashish Kumar Chauhan, MD & CEO, National Stock Exchange (NSE) thanks our Hon’ble Prime Minister Shri Narendra Modi Ji for his interaction with business community yesterday at Cyprus and appreciating the collaboration between NSE-IX at Gift City Gujarat and Cyprus Stock Exchange.
In a landmark development, NSE International Exchange (NSE IX), located at GIFT City, Gandhinagar, India, has signed a Memorandum of Understanding (MoU) with the Cyprus Stock Exchange (CSE). Held during the visit of Prime Minister of India Shri Narendra Modi ji to Cyprus and graced by H.E. Mr. Nikos Christodoulides, President of the Republic of Cyprus, the MoU was formalized during the roundtable event “Advancing a Strategic Economic Partnership” in Limassol, Cyprus, underlining the strategic significance of the agreement for both countries’ economic agendas.
The MoU lays the foundation for multi-faceted cooperation between NSE IX and CSE, focusing on:
• Cross and dual listings of financial instruments
• Joint development of innovative financial products
• Knowledge and research collaboration
• Capacity building and training initiatives
• Fintech engagement and outreach programs
This strategic partnership underscores growing interest in connecting Indian and European capital markets via GIFT City and reinforces India’s ambition to position GIFT City as a leading global financial hub.
Shri Narendra Modi, Hon’ble Prime Minister of India, remarked during the event: “I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat’s GIFT City.”
Shri Ashish kumar Chauhan, MD & CEO, NSE, noted during the ceremony: “This MoU paves the way for collaboration in dual and cross listings, joint development of innovative financial products, and cooperation in research, training, and capacity-building initiatives. It opens doors for outreach programs and future engagements in other areas of mutual interest.
This partnership marks a new chapter in India–Cyprus financial cooperation, involving India’s GIFT City as an international financial services center and promoting capital market innovation and global investor access for both countries.” Shri V. Balasubramaniam, MD & CEO, NSE International Exchange, added: “NSE IX’s collaboration with the Cyprus Stock Exchange is a strategic step towards building robust cross-border market infrastructure.
With our shared vision of enhancing international financial connectivity, this MoU will drive long-term value for investors and institutions across Europe and India.” About NSE IX: NSE IX (https://www.nseix.com) is an International multi assets exchange set up at GIFT City on June 5, 2017, and recognized by International Financial Services Centre Authority (IFSCA) (www.ifsca.gov.in). NSE International Exchange holds a dominant market share of over 99 %, highlighting extensive leadership in GIFT IFSC.
NSE IX offers a diversified portfolio of products including Indian Single Stock Derivatives, Index Derivatives, Currency Derivatives, Depository Receipts and Global Stocks. The exchange provides a comprehensive range of primary market products including listing of Equity Shares, SPAC, REITs, InvITs, Depository Receipts, Debt Securities and ESG Debt Securities under the regulatory framework of IFSCA (Listing) Regulations, 2024.
NSE IX and GIFT NIFTY has received part 30 exemption from the Commodity Futures Trading Commission (CFTC) under regulation 30.10 and SEC class relief under Sections 5, 6, 15, or 17A (SEC Act 1934) which enables US customers to participate in derivative contracts listed on NSE IX.
