Cyprus will provide technical expertise for establishing Solar Energy plants in India . A Memorandum of Understanding was signed between 1 Cypriot and 2 Indian companies at Nicosia today in the presence of President Pratibha Devi Singh Patil. Addressing the Cyprus Chamber of Commerce and Industries she said that Cyprus and India are close & trusted friends and opportunities exist in both the countries for cooperation in the fields of IT, tourism , finance, hydrocarbons, food processing & automobiles. She said that India ‘s stable economy and its democratic & transparent system makes it an excellent destination for investment. She invited Cypriot companies to participate in projects in India individually or in Joint Ventures with Indian firms.