New Delhi: India on Monday said that more than 50 Indian companies have already invested in various sectors of the Egyptian economy, with pharmaceuticals, electronics and green energy being the focus sectors.
Addressing the Egypt National Day here in New Delhi, External Affairs Minister Dr Jaishankar said, "The India and Egypt economic cooperation has been steadily diversifying, with both sides seeking new opportunities for mutual benefit. More than 50 Indian companies have already invested in various sectors of the Egyptian economy, with pharmaceuticals, electronics and green energy being focus sectors."
"Our IT industry too has been establishing partnerships that we hope to see grow in the times ahead. Egypt has also opened up as a market for our agro-exports, notably that of wheat", he said during the Egyptian National Day.
He noted that the defence collaboration between the two countries has also grown in this very period. "Since 2021, our Air Forces have held regular exercises bilaterally as well as in a larger format. Our Special Forces, too, are conducting their exercises, most recently in January of this year. There are frequent and regular visits to Egyptian ports of Indian Naval Ships. And our defence industries are refreshing an old tradition through new activities and collaboration", the External Affairs Minister pointed out.
He said, that as two old civilizations, it is natural that cultural cooperation occupies a prominent place in the relationship. "We are cognizant that Yoga is enormously popular in Egypt. Prime Minister Modi himself referred to it during his Yoga address on the last International Day of Yoga. There is an interest as well in learning Indian languages and interactions between our universities remain strong", added Jaishankar.
When it comes to world affairs, Indian and Egyptian diplomats have a long tradition of working closely. "And I was just discussing that with the Ambassador as we came in, we appreciated that Egypt participated in the G20 during the Indian presidency. India also strongly supported Egypt’s membership of the BRICS. We value our collaboration in the context of the India-Africa Forum Summit process. I should add that I enjoyed a very warm and comfortable working relationship with my then counterpart, Minister Sameh Shoukry. I look forward to establishing the same with his successor," he said.
It is pertinent to note that India hosted Egyptian President Sisi as the chief guest of Republic Day in 2023. Within a few months, Prime Minister Narendra Modi visited Egypt that June and the relationship was elevated to the strategic level. Egypt's national day, known as Revolution Day or National Day, is celebrated on July 23 every year. It commemorates the Egyptian Revolution of 1952, which led to the overthrow of the monarchy and the establishment of the Republic of Egypt. It's a significant day in Egypt's history, symbolising the country's struggle for independence and sovereignty.
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