Nicosia, June 16 -- India will soon become the third-largest economy in the world, Prime Minister Narendra Modi has said, highlighting myriad economic opportunities the country offers to companies from Cyprus.

Modi, who is in Cyprus on the first leg of his three-nation tour, made the remarks as he, along with Cypriot President Nikos Christodoulides, attended a business roundtable on Sunday in Limassol, a city on the southern coast of Cyprus.

The Prime Minister highlighted India's rapid economic transformation in the last 11 years and noted that the country, propelled by next-generation reforms, policy predictability, stable polity and Ease of Doing Business, has become the fastest-growing major economy in the world, the External Affairs...