Cyprus, the seventh largest source of FDI into the country, is also pinning hopes on the new Indian regime to sort out tax issues which has created "immense obstacles" for investment activities between the two sides.
Striking an optimistic note, a Cyprus foreign ministry spokesperson said that a visit to India by the country's President Nicos Anastasiades would help in creating a new atmosphere.
Emphasising that Cyprus and India have traditionally had close ties, the official said the island nation was looking forward to the new government in New Delhi so that bilateral ties can be further enhanced and strengthened.
"The areas of trade, investments and commerce remain of primary importance, while at the same time we are looking to boost tourism in both directions.
"In addition, Cyprus being a 'natural studio' is trying to establish itself as a shooting destination for Indian film productions, which in itself will enhance tourism and cultural relations," the spokesperson told PTI. Many Indian films have been shot in Cyprus, known for its scenic beaches and natural beauty.
"... a visit by the President of the Republic of Cyprus, Nicos Anastasiades, to India, can do a lot to create a new atmosphere, which will be conducive in the promotion of our relations and the opening of new areas and avenues of fruitful co-operation," the spokesperson said.