Chennai
She was speaking at a session called Business, trade and Investment Opportunities in Egypt, organised by CII Southern Region in Chennai recently. Dr Khaled Melad Rezek, Commercial Counsellor, Embassy of Egypt in Delhi, said “There are over 450 Indian companies operating in Egypt of which around 50 are in manufacturing and construction with a combined investment exceeding $4.4 billion in 2018”. He also said there were major opportunities in sectors like urban development and agriculture. TT Ashok, Chairman, International Linkages Sub-Committee, CII SR and MD, Taylor Rubber Pvt. Ltd said, “Egypt has been one of India’s most important trading partners in Africa and the total trade between India and Egypt was $3.68 billion, marking an increase from the previous year. ‘A number of Indian companies have become an integral part of the Egyptian economy’ he mentioned.
He further added that, in addition to opportunities in areas like Infrastructure Development, Agriculture and Food Processing, Information Technology, Healthcare and Pharmaceuticals and Automobiles, Egypt was actively looking for investment in sectors like Textiles and Readymade Garments, Oil and Gas, Logistics & Transportation, Mining, Renewable Energy, Retail and Construction. He also briefed on the CII India Business Forum (IBF) in Egypt launched by CII which worked to enhance and promote trade and investment between the two countries.
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