7th July 2025 :In a landmark move poised to reshape the Indian maritime landscape, Cyprus-based Interorient Navigation Co. Ltd, in collaboration with Danship & Partners Ltd., has announced a historic Foreign Direct Investment (FDI) of ₹10,000 crore in India’s shipping sector. This development marks the largest FDI in the sector since it was opened to 100% foreign investment in 2005.
The joint investment reflects the strengthening bilateral ties between India and Cyprus and follows closely on the heels of Indian Prime Minister Narendra Modi’s recent state visit to Cyprus on 15th June 2025—the first by an Indian PM in over two decades. During his visit, PM Modi met with Cypriot President Nikos Christodoulides, where both leaders emphasized deepening cooperation in maritime affairs, among other areas. The two nations already share an Indo-Cyprus Maritime Cooperation Framework Agreement.
A Strategic Collaboration
Interorient Navigation is led by Cypriot maritime leader Mr. Themis Papadopoulas, while Danship & Partners Ltd. is helmed by Indian maritime entrepreneur Capt. Danniel Gautam Chopra. The partnership is not only seen as a business collaboration but also as a diplomatic gesture aimed at further strengthening Indo-Cypriot relations.
“This mega investment is a testament to the growing trust and partnership between India and Cyprus,” said a government official familiar with the development. “It symbolises a deepening maritime and economic alliance.”
Boosting India’s Maritime Ambitions
This investment comes at a crucial time, aligning with the Government of India’s strategic maritime development initiatives such as Maritime India Vision 2030, SagarMala, and the Amrit Kaal Vision 2047. It is also seen as a significant step toward realizing the goals of a Viksit Bharat (Developed India) and the broader Atmanirbhar Bharat (Self-reliant India) vision.
Among the key benefits of this FDI initiative:
- All vessels under this initiative will be registered under the Indian flag, significantly enhancing India’s national shipping tonnage.
- Job creation is expected to see a major boost, with increased opportunities for Indian cadets, trainees, and seafarers.
- Retention of freight earnings within the Indian economy, particularly for EXIM (export-import) trade.
- Enhanced economic and strategic maritime security for India.
- A strong value-added contribution to India’s aspirations of becoming the world’s third-largest economy in the coming years.
An Economic and Diplomatic Milestone
This announcement is not only being celebrated in maritime circles but also seen as a diplomatic milestone that further cements India’s global partnerships. With both India and Cyprus being major maritime nations, the investment sets the stage for future collaborations across infrastructure, shipping technology, and global trade logistics.
Industry experts hail this as a “watershed moment” for Indian shipping, bringing in not just capital, but also expertise, employment, and geopolitical goodwill.
