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Delhi-Cairo economic ties soar, over 50 Indian companies now invest in Egypt

On the defence front, the EAM spoke about the expanding collaboration between the two countries, including regular bilateral exercises.
31.07.24 | Source: Daily News Egypt



India Reaffirms Commitment to Deepening Strategic Partnership with EgyptIndia’s External Affairs Minister, S. Jaishankar, joined the Egyptian Embassy in New Delhi to celebrate Egypt’s National Day, underscoring the rapidly evolving strategic partnership between the two nations.





In his address, Jaishankar conveyed the Indian government’s warmest wishes to the people and leadership of Egypt, highlighting the significant progress made in bilateral relations over the past year. He noted that the relationship, which was elevated to a strategic level during Prime Minister Narendra Modi’s visit to Cairo in June 2023, has been living up to its new nomenclature with substance, activities, and enthusiasm.


Delving into the economic sphere, the External Affairs Minister drew attention to the remarkable intensification and diversification of India-Egypt trade and investment cooperation. He stated that more than 50 Indian companies have already invested in various sectors of the Egyptian economy, with pharmaceuticals, electronics, and green energy emerging as key focus areas. Jaishankar also expressed optimism about the opening of the Egyptian market to India’s agro-exports, particularly wheat.


On the defence front, the EAM spoke about the expanding collaboration between the two countries, including regular bilateral exercises, as well as exercises between Special Forces, and frequent visits by Indian naval ships to Egyptian ports. He observed that the defence industries of both nations are refreshing an old tradition through new activities and collaboration.



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