Prime Minister Narendra Modi on Friday said India appreciates Cyprus' support for its permanent membership of the UNSC and called for early reform of the Security Council.

"India and Cyprus share the common objective of bringing about an early reform in the United Nations Security Council. Both of us believe that a reformed Security Council will be reflective of the world as it is, and not as it was (earlier)," Modi said while addressing the media after the delegation level talks with Cyprus President Nicos Anastasiades.

"It is necessary to address range of challenges facing the world today," the Prime Minister said.

On terrorism, Modi said that being part of a neighbourhood facing threats of terrorism, Cyprus agreed that there was an urgent need for creating a comprehensive mechanism against terrorism.

Both nations called for early conclusion of the Comprehensive Convention on International Terrorism.

Modi also expressed support for the territorial integrity of Cyprus and said that both the leaders held detailed discussions which covered the full range of bilateral issues.

Last year, a revised double taxation avoidance agreement (DTAA) was signed between the two countries. The provisions of the new DTAA came into force from April 1.

Earlier, President Pranab Mukherjee and Modi received Anastasiades who was accorded a ceremonial welcome at Rashtrapati Bhavan here.

The visiting guest was given a ceremonial guard of honour at the forecourt of Rashtrapati Bhavan.

Anastasiades, who arrived in Mumbai on April 25, will depart from New Delhi on Saturday. This is his first visit to India.

Modi and Anastasiades also held talks on the sidelines of the UN General Assembly session in September 2015.