Latest news with #Egypt-India
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
FM Receives High-Level Indian Parliamentary Delegation in Cairo
Nada Mustafa Dr. Badr Abdelatty, Egypt's Minister of Foreign Affairs and Migration, received a high-level parliamentary delegation from India during their official visit to Cairo. During the meeting, Abdelatty emphasized the importance of capitalizing on the momentum witnessed in Egypt-India relations over recent years and translating it into concrete actions to enhance cooperation across various fields. He also highlighted the significance of activating the strategic partnership agreement between the two nations to serve the interests of their friendly peoples. FM further stressed the importance of leveraging the delegation's visit to Cairo to establish institutional parliamentary cooperation between Egypt and India and to explore new avenues for bilateral collaboration. On a different note, Abdelatty expressed Egypt's solidarity with India following the terrorist attack that took place in Pahalgam, Kashmir, on April 22, 2025. He referred to the phone call made by Egyptian President Abdel Fattah El-Sisi to Indian Prime Minister Narendra Modi after the incident, as well as his own conversations with the Indian Foreign Minister, reflecting the depth of the bilateral relationship and Egypt's unwavering humanitarian principles in opposing all forms of terrorism. Abdelatty also voiced Egypt's concern regarding the growing threat of terrorism, describing it as one of the most serious security challenges facing humanity. He outlined Egypt's comprehensive approach to combating terrorism and emphasized the country's accumulated experience in confronting severe waves of extremism over past decades. Moreover, Abdelatty reaffirmed Egypt's support for de-escalation between India and Pakistan to promote peace and stability in South Asia. He noted Egypt's deep concern over the developments in the region and welcomed the ceasefire agreement between the two countries, underscoring the importance of resolving outstanding disputes through dialogue and diplomatic channels. FM Receives High-Level Indian Parliamentary Delegation in Cairo read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
Daily News Egypt
13-05-2025
- Business
- Daily News Egypt
Indian business delegation to visit Egypt in June: Acting ambassador
Acting Ambassador of India in Cairo, C. Sushma, announced that a delegation from the Indian business community will visit Egypt in June, emphasizing that Indian companies see Egypt as a strategic investment destination due to its geographic location and extensive network of export agreements with global markets. Speaking at a press conference, Sushma revealed that two Indian companies had already visited Egypt on Sunday to explore opportunities for establishing factories. Discussions centered on cooperation in the rock phosphate sector, with a focus on local manufacturing in Egypt to replace current imports of the raw material. She highlighted that Egypt-India relations were elevated to the level of a strategic partnership in 2023, marked by reciprocal visits from the leaders of both countries. 'Indian investments in Egypt have reached $4bn, and we aim to increase that to $12bn in the coming years,' she said. Sushma also noted that political dialogue between the two countries continued into 2024, with high-level meetings taking place on the sidelines of the BRICS and G20 summits. She stated that there is growing interest in cooperation in the digital technology sector and that more collaborative ventures between Egypt and India are expected in the near future. Outlining current economic ties, Sushma explained that trade between the two countries reached approximately $4bn in the 2021–2022 fiscal year, with ambitions to triple this figure to $12bn. Ongoing negotiations are also underway to expand cooperation in agriculture and food security. India is a major exporter of rice to Egypt and imports phosphate in return. The two countries are now working toward the establishment of a joint phosphate production plant in Egypt to further support the agricultural sector. The Acting Ambassador also disclosed that plans are in motion to create an Indian industrial zone within the Suez Canal Economic Zone (SCZONE). She identified key sectors for cooperation, including automotives, railways, and pharmaceuticals. Discussions on these topics, as well as the proposed industrial zone, will be held with officials from the SCZone and Egypt's Minister of Trade and Industry in the near future. Sushma reiterated that Indian companies are increasingly drawn to Egypt because of its strategic geographic position and the multitude of trade agreements it holds with countries in Africa, the Middle East, and beyond. She also revealed that Egypt's newly appointed Foreign Minister, Badr Abdelatty, is expected to visit India soon for meetings with his Indian counterpart and other senior officials. In closing, Sushma emphasized that relations between Egypt and India have firmly reached a strategic level. She confirmed that India's new ambassador to Egypt will arrive in Cairo within days to officially assume his duties. She recalled that in 2023, bilateral ties reached new heights when President Abdel Fattah Al-Sisi visited New Delhi in January, followed by Indian Prime Minister Narendra Modi's first official visit to Cairo in June. During Modi's visit, both sides formally agreed to upgrade their bilateral relations to a strategic partnership.
Zawya
25-03-2025
- Business
- Zawya
Bridging Border: Egypt and India Reshaping Economic Future
Egypt and India have cultivated robust economic ties for many years, yet significant opportunities remain to be explored. Forming new partnerships marks a strategic milestone in their evolving relationship, characterized by remarkable growth in trade and investment. As both nations navigate shifting economic landscapes, the potential for job creation and export expansion is considerable. Ongoing collaboration in information and communication technology (ICT) and renewable energy is poised to redefine the economic futures of Egypt and India, unlocking new avenues for mutual benefit and prosperity. Egypt-India Economic Boom In 2024, Egypt imported $3.259 billion worth of goods from India, while exports to India were valued at $517.445 million, according to the Central Agency for Public Mobilization and Statistics' (CAPMAS) Foreign Trade Data Bulletin for February 2025. To strengthen economic ties and attract investments, Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib visited India in March 2025. During his visit, El-Khatib held high-level meetings with Indian officials, including Minister of Commerce and Industry Piyush Goyal, along with industry leaders. The meeting with Goyal addressed expanding trade between Egypt and India, with a target of $12 billion in five years, nearly tripling the $4.2 billion recorded in 2024. In this regard, Ahmed Ghaly, a trade economist, comments: 'This ambitious goal requires a combination of policy measures, strategic investments, and enhanced private-sector cooperation between both countries.' Ghaly explains, 'To boost trade exchange, Egypt and India are expected to focus on reducing trade barriers, improving logistics infrastructure, and facilitating smoother customs procedures. The expansion of direct shipping routes and trade financing mechanisms will play a crucial role in increasing efficiency and reducing costs for businesses on both sides.' Discussions also focused on renewable energy, chemicals, automotive manufacturing, pharmaceuticals, and ICT as priority investment sectors. The Egyptian-Indian Business Council aims to increase Indian investments in Egypt to $5 billion by 2027, reflecting a bold vision for mutual economic growth. One of the notable agreements signed during El-Khatib's visit is an $8 billion green hydrogen plant in the Suez Canal Economic Zone (SCZONE). Led by India's ReNew Power and Egypt's Elsewedy Electric, this project is set to produce 20,000 tons of green hydrogen annually by 2026, with plans to scale up production to 200,000 tons per year. This initiative positions Egypt as a regional leader in renewable energy and contributes to global decarbonization efforts. Moreover, the Egyptian-Indian Business Council has launched an ambitious investment initiative, targeting $5 billion by 2027. This includes projects in renewable energy, ICT, and industrial manufacturing zones. Indian companies are expected to invest heavily in Egypt's economy, further diversifying the bilateral relationship. Commenting on this initiative, Salma Chalabi, an economics specialist and a PhD student, tells Arab Finance: 'The initiative is set to significantly reshape bilateral trade and investment dynamics. This effort expands beyond traditional sectors like chemicals and tourism into high-growth areas such as renewable energy, green hydrogen, and IT.' Coupled with Egypt's efforts to streamline investment processes and address regulatory hurdles, Chalabi sees this diversification as a driver to bring bilateral trade closer to the $12 billion target by 2028. She also highlights that renewable energy and green hydrogen will be key focus areas. Economic Impact of Indian Investments in Egypt A key element fueling India's increasing investment in Egypt is the establishment of dedicated industrial zones. Ghaly notes, 'These zones offer an attractive business environment for Indian manufacturers by providing incentives such as tax breaks, reduced bureaucratic hurdles, and access to Egypt's strategic location as a gateway to Africa, Europe, and the Middle East.' 'By setting up manufacturing bases in these zones, Indian companies can not only tap into the Egyptian market but also leverage Egypt's free trade agreements with Africa and the European Union (EU) to access a wider consumer base,' Ghaly adds. Ghaly points out, 'As Egypt and India continue to expand their economic cooperation, one of the most direct benefits for Egypt will be job creation. Indian investments in manufacturing, IT, agriculture, and pharmaceuticals will generate employment opportunities for Egyptians at various skill levels.' Additionally, collaborations in ICT will drive Egypt's digital transformation agenda, improving connectivity and fostering innovation. Chalabi stresses, 'Recent partnerships in cybersecurity and IT are advancing Egypt's economic modernization, supporting the Digital Egypt strategy that focuses on expanding 5G networks and satellite projects to boost connectivity and attract technology investments in areas like e-government and fintech.' 'Egypt's cybersecurity sector is expected to grow by 12.39% annually, reaching $444 million by 2030. Collaborations with Indian companies like Trend Micro, which successfully blocked 73 million threats in Egypt in 2023, contribute to this growth. This achievement included the prevention of 18 million email threats, 2 million malicious URL attacks, and 8 million malware attacks. These efforts showcase the company's advanced threat detection and response capabilities in safeguarding Egypt's digital infrastructure, including energy grids and financial systems,' according to Chalabi. Moreover, the recent economic developments between the two countries are expected to have a positive impact on Egyptian exports. Chalabi highlights, 'Recent initiatives to deepen ties between Egypt and India are poised to significantly boost Egypt's export potential by expanding trade opportunities and harnessing Indian expertise.' 'Egypt's position as a regional energy hub, combined with India's demand for liquefied natural gas (LNG) and green hydrogen, creates new export opportunities. The $40 billion in green energy projects in the SCZONE reinforces this collaboration. Streamlined investment processes and regular bilateral trade forums are also driving Egypt's export growth and diversifying its trade landscape,' Chalabi emphasizes. With ambitious trade targets and substantial investments across various sectors, Egypt and India are poised to reap substantial benefits. Their shared commitment to increasing bilateral trade, alongside initiatives in renewable energy and ICT, underscores the strategic vision driving this partnership. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-03-2025
- Business
- Zawya
Egypt, India set ambitious trade target of $12bln in five years, up from $4.2bln
Egypt and India have set an ambitious target to increase bilateral trade from $4.2bn in 2024 to $12bn over the next five years. This goal was outlined during a meeting between Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib, and India's Minister of Commerce and Industry, Piyush Goyal, as part of El-Khatib's official visit to India. El-Khatib emphasized Egypt's commitment to attracting more Indian investments, particularly in sectors such as renewable energy, chemicals, automotive manufacturing, pharmaceuticals, textiles, and information technology. He highlighted recent major Indian investments in Egypt, including agreements in the energy sector for the production of green hydrogen and green ammonia, valued at $12bn. The Egyptian minister reassured Indian investors that the government is fully prepared to provide the necessary support, particularly through infrastructure development and the establishment of strategic economic zones like the Suez Canal Economic Zone, which is poised to become a global hub for trade. Goyal expressed India's strong interest in expanding economic ties with Egypt and acknowledged the country's importance in the Middle East and Africa. He emphasized India's commitment to facilitating the entry of Egyptian agricultural products into the Indian market, marking a key area of cooperation. Both sides also discussed the upcoming visit of a delegation from India's Ministry of Commerce and Industry, alongside business leaders from the Confederation of Indian Industry (CII), to Egypt. The delegation will focus on discussions about a proposed Indian Industrial Zone in the Suez Canal Economic Zone. The meeting concluded with a review of the progress made since the September 2024 Egypt-India Joint Trade Committee session, where agreements were reached on facilitating the entry of Egyptian agricultural goods into India. Both ministers reaffirmed their ambition to significantly boost trade over the next five years, setting the stage for a stronger economic partnership.
Daily News Egypt
16-03-2025
- Business
- Daily News Egypt
Egypt's Investment Minister visits India to strengthen economic ties, attract investment
Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib, has embarked on an official visit to India to bolster economic relations between the two countries across trade, industry, and investment sectors. The visit aims to attract more Indian investments to Egypt by showcasing the country's investment-friendly policies and key opportunities across various sectors. During his visit, El-Khatib is scheduled to hold high-level meetings with several senior Indian officials, industry leaders, and business representatives from nine major companies and organizations. Discussions will focus on Egypt's current economic policies aimed at facilitating investment and foreign trade while highlighting lucrative opportunities for Indian investors in productive and service sectors. The minister is set to meet with S. Jaishankar, India's Minister of External Affairs, and Piyush Goyal, Minister of Commerce and Industry of India, to explore ways to deepen bilateral trade and investment cooperation. Additionally, El-Khatib will participate in an Egypt-India roundtable discussion at the Confederation of Indian Industry (CII) headquarters, where he will engage with CEOs of major Indian companies and industrial sector leaders. As part of his agenda, the minister will also hold discussions with executives from leading Indian firms operating in key sectors of mutual interest, including automotive, chemical industries, and energy. These meetings are expected to facilitate new investments and expand the presence of Indian companies in Egypt. Trade exchange between Egypt and India has reached $7.26bn, with over 50 Indian companies investing approximately $8 billion in agriculture, chemicals, renewable energy, telecommunications, and information technology, according to Egyptian Minister of Communication and Information Technology Amr Talaat. The visit is seen as a significant step toward further strengthening economic ties and unlocking new opportunities for collaboration between the two nations.
