Cyprus Firms Announce Rs 10,000 Crore FDI in Indian Shipping

Cyprus-based shipping companies Interorient Navigation Co Ltd and Danship & Partners Ltd have announced a historic Rs 10,000 crore foreign direct investment (FDI) in India's shipping sector, marking the largest FDI in this industry since it was fully opened to overseas investment in 2005. This significant investment aligns with India's broader maritime initiatives such as 'Maritime India Vision – 2030' and 'SagarMala,' supporting Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat.' The investment follows Prime Minister Modi's June 2025 visit to Cyprus, where he held formal discussions with Cypriot President Nikos Christodoulides to strengthen bilateral maritime cooperation. All ships acquired through this investment will be registered under the Indian flag, boosting the national shipping tonnage and ensuring that freight earnings from Indian export-import trade remain within the domestic economy. Interorient Navigation, founded in 1979, currently manages over 100 vessels, and this infusion of capital is expected to significantly enhance India's maritime infrastructure and economic growth trajectory. This move is seen as a strategic step towards India’s ambition to become the world's third-largest economy.