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Piyush Goyal's Egypt visit to boost trade, investment ties: Industry chamber

Digital Desk | New Delhi, Nov 10 (IANS) Union Commerce and Industry Minister Piyush Goyal's upcoming visit to Egypt, accompanied by a high-level business delegation, is expected to boost bilateral trade and investment ties while creating wider regional opportunities for Indian businesses, an industry chamber said on Tuesday. The statement from FIEO said the visit offers an opportunity to translate the longstanding India-Egypt strategic partnership into stronger commercial ties. Egypt brings together a significant domestic market, a strategic location and extensive regional trade connectivity. The ministers visit can help Indian businesses build on these advantages to expand exports, forge manufacturing partnerships and participate more actively in regional value chains, said FIEO President S C Ralhan. India-Egypt merchandise trade stood at $6.5 billion in FY26, comprising Indian exports of $3.9 billion and imports of $2.6 billion. Key exports from India include petroleum products, engineering goods, chemicals, cotton yarn, buffalo meat and pharmaceuticals form a substantial part of Indias export basket. The visit provides an opportunity to diversify this basket, deepen market access and strengthen Indias position as a preferred sourcing partner as the country already is Egypts fifth-largest source of imports, the statement noted. Growing Egyptian interest in Indian expertise creates opportunities that extend from technology and innovation to manufacturing and infrastructure. Indian companies can contribute to Egypts development priorities while building commercially sustainable partnerships that generate value for both countries, Ralhan said. Egypts network of free trade agreements covering markets across Africa, the Arab region and parts of Europe, together with its Mediterranean connectivity, makes it an attractive location for regional production and distribution hubs. Combining Indian manufacturing strengths with Egypts location and trade linkages can support export diversification and closer integration into international supply chains, Ralhan said. Over 700 Indian companies are registered in Egypt, with around 70 actively operating across various sectors and combined investments exceeding $5.5 billion. This presence can help encourage fresh investment, deepen industrial collaboration and create opportunities for Indian MSMEs to enter regional supply chains. Ralhan emphasised that sustained institutional engagement, focused business-to-business interactions and effective investment facilitation would be essential to convert the visits momentum into concrete outcomes. High-level exchanges, supported by consistent commercial follow-through, would also reinforce investor confidence and encourage long-term partnerships, he added.

10 Nov 2026 5:48 pm