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India - Egypt Economic & Commercial Relations

Egypt has traditionally been one of India’s most important trading partners in the African continent. The India-Egypt Bilateral Trade Agreement has been in operation since March 1978 and is based on the Most Favored Nation clause. According to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS), India was Egypt’s 8th largest trading partner in the financial year (FY) 2020-21. It was the 6th largest importer of Egyptian goods and the 8th largest exporter to Egypt during the same time.

2. Bilateral trade reached its peak of US$ 5.45 billion in FY 2012-13. The trade volume declined gradually from US$ 4.95 billion in FY 2013-14 to US$ 4.77 billion in FY 2014-15 and to US$ 3.23 billion in FY 2016-17 due to general economic slowdown and decline in oil prices. However, trade witnessed positive growth again from FY 2017-18 onwards to reach US$ 3.68 billion in FY 2017-18 and US $ 4.55 billion in FY 2018-19. During FY 2019- 2020, the volume of trade was US $ 4.5 billion and during FY 2020-2021, it reached US $ 4.15 billion.

3. On an YoY basis, Indian exports to Egypt decreased by 9.5% in FY 2020-21, whereas Indian imports from Egypt decreased by 6.8% compared to FY 2019-20 due to economic impact of the Pandemic.

4. Bilateral trade figures in USD million for the ten-year period (FY 2010-20) are provided below:

Fiscal Financial Year

April - March

Total Exports to Egypt

Total Imports from Egypt

Total Trade

2011 – 12

2,421

3,002

5,424

2012 – 13

2,897

2,553

5,450

2013 - 14

2,562

2,338

4,951

2014 - 15

3,025

1,740

4,766

2015 – 16

2,337

1,221

3,558

2016 – 17

2,071

1,161

3,233

2017 – 18

2,392

1,292

3,685

2018 – 19

2,886

1,667

4,554

2019 – 20

2,504

2,031

4,535

2020 – 21

2,264

1,892

4,156

Source: DGCIS of INDIA


Source: DGCIS (India)

I. India’s Exports to Egypt

India's top exported items to Egypt in FY 2020-21 were Meat (19.9% ), Tobacco and Manufactured Tobacco(5.5%), Motor Cars(4.2%) and Cotton Yarn (4.1%).

II. India’s Imports from Egypt

India's top imported items from Egypt for FY 2020-21 were Petroleum Oil(46.2%), Petroleum Gas( 11.1 %), Chemical Fertilizers( 8.8%) and Cotton ( 7.2%)

INVESTMENTS

Indian Investments in Egypt:

Indian companies are operating in all major sectors of the Egyptian economy including textiles and garments, power, chemicals including specialty chemicals, adhesives, pharmaceuticals, information technology, paints, consumer goods, health care, PVC, caustic soda, PET resin, plastics, paper, packaging, auto and auto-component and trading. Around 50 Indian companies are in manufacturing and construction with a combined investment of more than US$ 3.15 billion. Approximately half are joint ventures and wholly owned Indian subsidiaries and the rest of the Indian companies are operating in Egypt through their representative offices and executing various projects for Governmental organizations.

Major Indian investments in Egypt include TCI Sanmar, Alexandria Carbon Black, Egypt-India Polyester Company (EIPET), Embee International, Velocity Apparelz, Galaxy Chemicals, Essel Propack, Flex P. Films, Lulu Hypermarket, Misr Hytech Seed International etc.

L&T successfully completed Toshka 2 – Wadi Halfa 220 kV double circuit overhead transmission line project. The Overhead Transmission Line was successfully energized on 13 January 2020. Sterling & Wilson has built a cumulative capacity of 320 MW of Solar PV plants in 5 projects in Aswan, in addition to establishment of a Data Center of USD 3 million for Faisal Islamic Bank in Smart Village. Sterling & Wilson has recently completed a cloud data center Project for TE for estimated USD 30 Million. The current projects of the company are NN1 Center of Telecom Egypt in New Administrative Capital and Voice Over Data Center for Vodafone Egypt of USD 2 million in Smart Village that will be completed in November 2021.

The Lulu Group opened its first Hypermarket in Egypt in December 2015 followed by second hypermarket in Wadi Degla, Cairo. In February 2021. Lulu opened the third branch of its hypermarket in New Cairo, providing 2000 job opportunities directly and indirectly through its three branches.

Egyptian Investments in India:

Investments by Egyptian companies in India are about US$ 36.7 million. El Sewedy group established its presence in Noida (Uttar Pradesh) in 2013 for manufacturing of smart electric meters. KAPCI Coatings set up their manufacturing plant in Bangalore (Karnataka) to produce car paints with an investment of US $ 15 million. Modern Waterproofing Group (Bitumode) is a multinational group of companies that is engaged in manufacturing a wide range of products for the construction industry including waterproofing membranes and protection boards. It has manufacturing facility in Dahej (Gujarat).

IBF

India Business Forum (IBF) in Egypt was launched in 2012 by the Embassy of India, Cairo with the Confederation of Indian Industry (CII), one of India’s premier business organizations. The CII IBF is a platform for Indian companies in Egypt to share information and raise issues of concern to authorities in Egypt and India. IBF also aims to promote and support the activities of its members in Egypt and play a catalyst role in enhancing trade and investment between the two countries. The Ambassador of India to Egypt is the Patron of the IBF.

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Commercial Support Team:

1. Mr. Nahas Ali, Second Secretary (Commerce)

Phone: +202-27355794

Email: com.cairo@mea.gov.in

2. Mr. Hem Narayan Singh,  Attache (Commerce) 

Phone No.: 2736-1014
e-mail: attcom.cairo@mea.gov.in

   

 For Commercial Inquiries:

Mr. Ahmed Ali, Marketing Manager
Phone No.: 2736-1014 & 27360052 Ext. 129

e-mail: ahmed.ali@indembcairo.com

 Mr. Mohamed El Tayb, Commercial Executive

Phone No.: 2736-1014 & 27360052 Ext. 135

e-mail: m.tayb@indembcairo.com

 Mr. Kamal Nabil, Commercial Executive

Phone No.: 2736-1014 & 27360052 Ext. 228

e-mail: kamal@indembcairo.com

 Mr. Tamer Adel, Commercial Executive

Phone No.: 2736-1014 & 27360052 Ext. 105

e-mail: tamer@indembcairo.com