Union Minister of Commerce and Industry Piyush Goyal arrived in Cairo on Saturday, on an official visit aimed at strengthening the India–Egypt Strategic Partnership and expanding bilateral cooperation in trade, investment and industrial development.
The visit will focus on deepening economic and commercial ties between the two countries and identifying new opportunities for business partnerships. A delegation comprising more than 130 business leaders and start-ups is accompanying the Minister, reflecting the emphasis on expanding private-sector engagement and fostering commercial collaboration.
India and Egypt share longstanding historical, civilizational and people-to-people ties. Over the years, their relationship has developed into a multifaceted partnership covering political, economic, security and cultural cooperation. Under the leadership of Prime Minister Narendra Modi, bilateral relations have gained fresh momentum, with the two countries elevating their ties to a Strategic Partnership and committing to stronger cooperation across several areas, including the economy.
At the beginning of his visit, Goyal paid homage to Indian soldiers at the Heliopolis War Cemetery in Cairo, honouring their sacrifice and contribution during the two World Wars. Of the 4,000 soldiers buried or commemorated at the cemetery, 3,727 were Indians. Nearly 2,000 Indian soldiers lost their lives during the First World War, while around 1,700 died during the Second World War.
The Minister also interacted with members of the Indian community at an event organised by the Indian Community Association in Egypt. The engagement provided an opportunity to recognise the diaspora’s contribution to strengthening economic, cultural and people-to-people relations between the two countries.
Addressing the gathering, Goyal highlighted the strength of India–Egypt relations and said that bilateral trade, currently valued at around US$6.5 billion, represented only the beginning of the economic partnership between the two ancient civilisations.
Describing the Indian community as a living bridge between the two countries, he highlighted the presence of nearly 70 Indian companies in Egypt. These companies have investments exceeding US$5 billion and generate direct and indirect employment for Egyptian citizens.
The Indian diaspora continues to play an important role in promoting commercial exchanges, professional cooperation and closer people-to-people connections between India and Egypt.
A major highlight of the visit will be the 7th Session of the India–Egypt Joint Trade Committee (JTC), scheduled to take place in Cairo on November 15. The meeting will be co-chaired by Goyal and Egypt’s Minister of Investment and Foreign Trade, Dr Mohamed Farid Saleh. It will provide an important platform for reviewing bilateral trade and investment relations and discussing ways to address issues affecting economic cooperation.
The programme will also include a meeting of the India–Egypt Joint Business Council (JBC) and the India–Egypt Business Forum, bringing together business representatives from both countries to explore investment opportunities and strengthen commercial partnerships.
Goyal is also scheduled to hold bilateral meetings with senior Egyptian Ministers and interact with leading business representatives. Other engagements will include meetings with the African Export-Import Bank (Afreximbank), the Egyptian Junior Businessmen Association and the Egypt–India Startups Forum.
These interactions are expected to facilitate discussions on trade and investment-related concerns, identify new areas of cooperation and encourage partnerships between businesses and start-ups in both countries. The engagements will also seek to provide fresh momentum to industrial cooperation, innovation linkages and investment flows.
(PIB)
