Why Did Ashish Chauhan Thank PM Modi for NSE-Cyprus Stock Exchange Collaboration?
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Synopsis
In a significant acknowledgment, Ashish Kumar Chauhan, CEO of the NSE, thanked PM Modi for recognizing the collaboration with the Cyprus Stock Exchange. This partnership signals India's growing influence as a global financial hub, particularly through GIFT City in Gujarat. Discover the details behind this appreciation and its implications for international business.
Key Takeaways
- Ashish Chauhan expresses gratitude towards PM Modi.
- Collaboration between NSE and Cyprus Stock Exchange at GIFT City.
- GIFT City recognized as a global financial hub.
- India is the fifth-largest economy, moving towards third.
- Focus on infrastructure development and economic ties.
Mumbai, June 16 (NationPress) Ashish Kumar Chauhan, the Managing Director and CEO of the National Stock Exchange (NSE), expressed gratitude towards Prime Minister Narendra Modi for recognizing the partnership between the NSE and the Cyprus Stock Exchange at GIFT City in Gujarat.
During the Business Roundtable Meeting in Cyprus, PM Modi emphasized GIFT City as an emerging global financial hub.
In a post on the X social media platform, Chauhan stated: “Thank you @pmoindia @narendramodi for your engagement with the business community yesterday in Cyprus and for acknowledging the collaboration between @nse_ix at GIFT City, Gujarat and the Cyprus Stock Exchange.”
PM Modi praised the collaboration between the NSE International Exchange (NSE IX) and the Cyprus Stock Exchange at GIFT City, urging enhanced tourism cooperation and commending the establishment of the India–Cyprus–Greece Business and Investment Council as a significant move towards stronger economic connections.
At the India-Cyprus CEO Forum, PM Modi underscored India’s swift economic advancement and immense potential, noting that India has ascended to the position of the fifth-largest economy globally and is on the trajectory to become the third largest soon.
“In the last decade, India has emerged as the fifth largest economy in the world, and we are quickly progressing towards being the third largest. Today, India stands as one of the fastest-growing emerging economies globally... with a clear policy,” PM Modi conveyed to the audience.
PM Modi also shed light on India’s advancing economic prowess and its commitment to future-ready infrastructure development, detailing key focus areas such as the new Manufacturing Mission, maritime and port advancements, shipbuilding, and a rapidly growing civil aviation sector.
According to an official statement, NIPL (NPCI International Payments Limited) and Eurobank Cyprus have reached an agreement to facilitate UPI for cross-border payments between the two nations, benefiting tourists and businesses alike.
Point of View
The collaboration between NSE and the Cyprus Stock Exchange signifies India's growing stature in the global financial landscape. As we witness PM Modi's initiatives to strengthen economic ties and infrastructure development, it's evident that India is positioning itself as a key player in the international economy, fostering relationships that could lead to enhanced investment opportunities.
NationPress
16/06/2025
Frequently Asked Questions
What is GIFT City?
GIFT City, located in Gujarat, India, is an emerging global financial hub aimed at attracting international business and investment.
Who is Ashish Kumar Chauhan?
Ashish Kumar Chauhan is the Managing Director and CEO of the National Stock Exchange (NSE) of India.
What is the significance of the NSE-Cyprus collaboration?
The collaboration enhances financial cooperation between India and Cyprus, promoting investment opportunities and economic ties.
What did PM Modi say about India's economy?
PM Modi highlighted that India is the fifth-largest economy and is rapidly progressing towards becoming the third largest globally.
What is UPI?
UPI, or Unified Payments Interface, is a real-time payment system that facilitates instant money transfers between bank accounts in India.
