Cypriot President Nicos Anastasiades, who is on a five- day visit to India, said the "long-standing" ties between India and Cyprus is "reciprocal and of mutually beneficial".
"Tomorrow agreements will be signed in the areas of merchant shipping, agriculture, aviation, education and culture to widen our cooperation," he said.
"The major challenges in the area of security that Europe faces is the same which India does. Whether it is London, Stockholm, St Petersburg or Mumbai, all face the threat today. Terrorism is a sophisticated weapon from which no country is immune," the president said.
"In Mumbai, I paid my respect to the victims of the 2008 terror attack. And, I say, the threat of terrorism calls for strengthening ties. Cyprus stands with India and is a supporter for the comprehensive convention against terrorism.
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"We need a united response against terrorism. So we participated in the Global Coalition To Counter ISIS. We also provided ways and means to counter terror organisations by giving military assistance to the Lebanese Armed Forces and actively exchanging information and intelligence with partners," he said.
"India's engagement with its neighbours and its valuable contribution to regional peace and stability signifies its crucial role in the region and by extension, the world.
"In places like Afghanistan, India and the EU can forge closer cooperation for the benefit of the people and for peace and stability in the region. Where possible, India and the EU must join forces to tackle the root causes of terrorism," he said.
Anastasiades said terrorism and political instability go hand in hand and lie at the heart of challenges that both the EU and India face.
"The EU-India Joint Declaration on the fight against terrorism is an important step in fighting the menace," he said.
On Cyprus' internal issues, the President said India has been a "long-standing, reliable ally in our efforts to reunify Cyprus and its people through a comprehensive settlement, in a bi-zonal, bi-communal federation, with a single sovereignty, a single international personality and a single citizenship, in line with UN Security Council Resolutions and EU law".
"While we remain firmly committed to the ongoing negotiating effort, we look to friends and allies such as India to convey the message to Turkey that the status quo is unacceptable, and that it needs to engage constructively, and actively in the efforts underway," the Cypriot president said.
Anastasiades emphasised both the countries could engage strongly in the economic sector also.
"Cyprus's position is that it is high time to work towards advancing the EU-India negotiations on the Free Trade Agreement, which will open new avenues of cooperation in the economic sector. I believe that there is now a new momentum in this regard and we must ensure that the process moves forward he said.
"A Free Trade Agreement, besides the obvious trade and economic benefits that would accrue, will provide the space for EU Member States to maximise their bilateral engagement with India, in all possible sectors of economic activity," Anastasiades added.
The president said Cyprus is eager to be part of this new and dynamic EU-India partnership and to contribute actively for mutual interest, particularly in areas where Cyprus has expertise, including energy, renewable energy, hydrocarbons, shipping, education and tourism.
"Cyprus very much looks forward to the next EU-India Summit, which will take place in New Delhi in October," he said, adding, the EU-India trade volumes are "solid and convincing proof that India-EU relationship has grown beyond its infancy and it must be taken to full maturity".
Earlier, briefing reporters on his visit, Ruchi Ghanashyam, Secretary (West) in the Ministry of External Affairs, said the Cypriot President will meet his Indian counterpart Pranab Mukherjee tomorrow.
He will also present Mukherjee with Grand Collar of Order of Makarios III, the highest ranked order of Cyprus to foreign heads of state and governments.
He will also meet Prime Minister Narendra Modi tomorrow and hold a delegation-level talks, apart from meeting External Affairs Minister Sushma Swaraj.
On the mediation prospect, she said, "Two leaders (our PM and the President of Cyprus) will meet and discuss issues that they decide upon. I would not like to prejudge or speculate. However our position on the Cyprus issue is very clear and well known. I don't need to reiterate it."
"Cyprus supports India's views on crucial issues such as the UN Security Council reforms and the Nuclear Suppliers Group," Ghanashyam said.