Around 50 Indian companies have invested in various sectors in Egypt with a combined investment exceeding $3.15bn, according to Indian ambassador in Cairo, Ajit Gupte. “Indian companies are present in a range of sectors like apparel, agriculture, chemicals, energy, automobiles, retail, and others,” Gupte said. Gupte affirmed that most of these Indian companies like TCI Sanmar also have additional investments in the pipeline. The Indian ambassador pointed out that bilateral mechanisms have been revived to facilitate trade and economic relations between India and Egypt. The two sides also agreed to work towards achieving a bilateral trade div of $12bn by 2027.

Source: Daily News Egypt August 15, 2022 05:58 UTC