India-Cyprus Maritime Cooperation Fuels Record-Breaking Shipping Sector FDI

In a significant boost for India’s maritime sector, two prominent Cypriot shipping companies, Interorient Navigation Co. Ltd. and Danship & Partners Ltd., have announced a substantial collaboration to invest ₹10,000 crore (approximately USD 1.2 billion) in the Indian shipping industry.

Largest FDI in the Indian Shipping Sector

A joint statement from Interorient Navigation Co. Ltd. and Danship and Partners Ltd., both based in Cyprus, confirmed an investment of INR 10,000 crore into the Indian shipping industry. This massive inflow of capital represents the single largest FDI in the sector since India allowed 100% foreign direct investment in 2005.

According to Daniel Gautam Chopra, who heads Danship and Partners, the primary objective of this investment is to increase India’s tonnage by procuring ships and registering them under the Indian flag. This strategic move aims to expand India’s national shipping capacity and ensure that freight earned from India’s export-import (EXIM) trade largely remains within the Indian economy. It is also expected to create significant employment opportunities for Indian cadets, trainees, and seafarers.

Strengthening India-Cyprus Maritime Cooperation

This substantial investment follows closely on the heels of the Indian Prime Minister’s official visit to Cyprus on June 15, 2025, the first such visit by an Indian Prime Minister in over two decades. During his visit, the Prime Minister held formal discussions with the President of Cyprus, Mr. Nikos Christodoulides, where a wide range of issues were deliberated.

Crucially, strengthening cooperation between the two countries in the maritime domain was a key point of discussion. The joint statement highlighted that both India and Cyprus are significant maritime nations, and they already have an Indo-Cyprus Maritime Cooperation Framework Agreement in place. This existing framework provided a foundation for further enhancing bilateral ties, particularly in the shipping sector, paving the way for such a monumental investment. The discussions underscored a shared vision for deepening maritime collaboration, recognizing its importance for both nations’ strategic and economic objectives.