India and Cyprus on Thursday expressed hope that after the removal of Cyprus as a notified jurisdictional area and the revised tax avoidance pact bilateral investments between the two countries will increase.

"These can give a completely new dynamic and strengthen the economic ties, particularly in the field of investments between the two countries," said Nico's Anastasiades, President of Cyprus at a bilateral business session.

To this effect, a number of bilateral agreements will be signed during his visit to New Delhi, he said.

Minister of State of Finance Arjun Ram Meghwal also expressed hope that Cyprus will not only increase foreign direct investments to India but also invest in manufacturing in the county.

For its part, he said that India can invest in sectors such as tourism and hospitality, wind energy and film production in Cyprus.