Moscow: AfricUpdate – News Desk
Egypt is increasingly viewed as an attractive destination for Indian businesses, fuelled by a rapidly expanding Indian economy and opportunities for collaborative ventures. This sentiment was highlighted during a recent discussion hosted by the Indian Embassy in Cairo, bringing together Egyptian business leaders, as reported by MENA, a partner of TV BRICS.
While acknowledging the robust existing trade volume between the two nations, India’s Ambassador to Egypt, Suresh Reddy, emphasised the considerable potential for Egyptian exports to India. He pointed to sectors such as agriculture, fertilisers, chemicals, and textiles as areas ripe for growth.
The Ambassador observed that the fourth largest economy in the world – India, currently boasting a GDP exceeding US$4.3 trillion and experiencing an annual growth rate of approximately 7%, presents an ever-more compelling market for Egyptian goods.
Egyptian business representatives proposed the organisation of trade missions to India to showcase Egypt’s investment and trade opportunities. These missions would aim to facilitate meetings with prospective partners and establish enduring business relationships.
Discussions centred on the potential for increasing joint ventures and technology transfer, particularly in the fields of information and communication technologies (ICT), software services, financial technology, agricultural technology, and collaboration with India’s thriving start-up ecosystem.
According to the source, with over 159,000 registered start-ups and more than 120 considered high-achievers, India’s burgeoning entrepreneurial landscape – the world’s third-largest – offers significant opportunities for Egyptian companies to benefit from innovation, expand solution offerings, and access new markets.
