Photo courtesy of Egypt's Ministry of Investment and Foreign Trade
Officials from both sides discussed plans to expand industrial and production integration, with a focus on increasing market access and boosting investment flows, the Ministry of Investment and Foreign Trade stated on Monday.
Egypt is aiming to attract more Indian investment in renewable energy, pharmaceuticals, and automotive manufacturing to support local production and exports.
The plans were discussed during a meeting between investment minister Mohamed Farid Saleh and India’s ambassador to Cairo, Suresh K. Reddy, along with representatives from trade and investment bodies.
The ministry is also planning talks with major Indian companies to address investment opportunities and constraints, though no date has been announced.
The push comes as Egypt faces mounting external pressures. The country is trying to maintain its food security amid the rising dollar rates, which affect the import bill. Additionally, inflation forecasts remain unstable with food and energy prices remaining key reasons for economic instability, according to the International Monetary Fund’s (IMF) economic outlook report for the current fiscal year.
Egypt's petroleum import bill rose to about $2.5 billion in March, up from $1.2 billion in January, reflecting higher global energy prices linked to regional tensions.
The IMF has warned that continued disruption to global trade and commodity markets could widen Egypt’s external imbalances, increase capital outflows, and raise borrowing costs, keeping demand for external financing elevated.
In response, Cairo has introduced measures to curb energy consumption and contain spending pressures, including higher fuel and transport prices and steps to reduce electricity use.
The government is targeting a 27.6 percent increase in revenues to EGP 4 trillion in the 2026/2027 fiscal year, while aiming to narrow the fiscal deficit to 4.9 percent of GDP and reduce public debt to around 78 percent of GDP.
Trade between Egypt and India has been expanding.
Bilateral exchange rose 12 percent in 2025, while more than 55 Indian companies operating in Egypt have investments worth about $4.23 billion across sectors, including chemicals, infrastructure, tourism, and textiles.
Egyptian investments in India are estimated at around $37 million, according to the Indian embassy in Cairo.
India is among Egypt’s top ten trading partners, with bilateral trade exceeding $6 billion in 2024.
The two countries have also established the Egypt-India Joint Business Chamber and are considering plans for an Indian industrial zone within the Suez Canal Economic Zone (SCZone) to expand trade and industrial cooperation.
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