After a lull due to the Covid-19 pandemic, Egypt has started organizing Trade Fairs with physical participation since August 2021. Over 10 Indian business delegations from FIEO, TPCI, Wool and Woolen Export Council, PHARMEXCIL, EEPC, TEXPROCIL etc. have participated in Trade Fairs in Egypt between August 2021 and June 2022, the Indian ambassador to Egypt said.
Ajit Gupte added: “It is notable that President Sisi inaugurated the Indian Pavilion during the recently concluded Africa Health ExCon in June 2022 which is testimony to the importance of Indian pharmaceutical companies supporting the healthcare system in Egypt by providing top quality affordable pharma products like APIs, serum, etc.”
“Around 50 Indian companies have invested in various sectors in Egypt with a combined investment exceeding US$ 3.15 billion. Major Indian investments in Egypt include TCI Sanmar (with the largest investment of US$ 1.5 billion), Alexandria Carbon Black, Kirloskar, Dabur India, FLEX P. FILMS, SCIB Paints, Godrej, Mahindra and Monginis.”
He noted that Indian companies are present in a range of sectors like apparel, agriculture, chemicals, energy, automobiles, retail and others. Overall, these companies provide direct employment to approximately 38,000 Egyptians.
The ambassador explained that Indian companies like L&T and Sterling & Wilson have also executed projects in Egypt, in energy and telecom sectors. Most of these Indian companies like TCI Sanmar also have additional investments in the pipeline.
Indian companies have also executed projects in Egypt. L&T successfully completed Toshka 2 – Wadi Halfa