Indian investors can explore high potential sector in Egypt like textile

The Egyptian envoy to India Ambassador Hatem Tageldin participating in an interaction at the MCC Chamber of Commerce and Industry on Tuesday said Indian investors can explore a number of high potential sectors in Egypt like textiles, Information and Communication Technology, wind and solar energy.

Among other sectors which the Indian companies can tap are finance, logistics, tourism, agriculture, medical tourism, retail, construction and education.

Refering to the Special Economic Zone developed by his country at the Suez Canal Corridor, Tageldin said that the mega project would make Egypt a logistic hub for the whole region, giving investors access to the Middle East, the European and the African markets.

The ambassador has invited Indian companies to develop an Indian industrial city beside the Suez Canal corridor.

Another Egyptian official said that Cairo has proposed six agreements to facilitate trade with India. Once these pacts are concluded, trade between the two countries would reach USD 7-8 billion over the next three-four years.

Titagarh Wagons will invest USD 500 million in a wagons manufacturing unit in Egypt soon, the official said.

The tourist flow from India to Egypt has increased by 28.3 percent, though there was scope for more growth. The two countries are looking at the possibilities of starting a direct flight from Cairo to New Delhi.

Recent Posts

VIP Clothing expands portfolio with premium products

VIP Clothing has entered a new market segment with the launch of branded handkerchiefs while also expanding its presence within…

21 hours ago

Cotecna launches advanced testing laboratory in Tirupur

Cotecna has officially opened its new Softlines Testing Laboratory in Tirupur. The inauguration was led by Amit Chopra, along with…

21 hours ago

Loop Industries expands recycling technology to Europe and India

Loop Industries has raised €10 mn through a convertible preferred security agreement with Reed Societe Generale Group, an entity under…

2 days ago

OJAS and Maharishi collaborate on capsule collection

OJAS has partnered with Maharishi for a capsule collection in military-inspired aesthetics featuring Maharishi’s Original Snopants, sweatshirt, and a tote…

2 days ago

Red Run expands into menswear with Drop 1 collection

Red Run has announced its foray into menswear with menswear collection, titled ‘Drop 1,’ featuring 10 essential pieces designed for…

3 days ago

INEOS Styrolution launches recycled polystyrene yoghurt cups

INEOS Styrolution, a global leader in styrenics, has successfully completed its first project involving mechanically recycled polystyrene in yoghurt cups.

3 days ago