Indian investors can explore high potential sector in Egypt like textile

The Egyptian envoy to India Ambassador Hatem Tageldin participating in an interaction at the MCC Chamber of Commerce and Industry on Tuesday said Indian investors can explore a number of high potential sectors in Egypt like textiles, Information and Communication Technology, wind and solar energy.

Among other sectors which the Indian companies can tap are finance, logistics, tourism, agriculture, medical tourism, retail, construction and education.

Refering to the Special Economic Zone developed by his country at the Suez Canal Corridor, Tageldin said that the mega project would make Egypt a logistic hub for the whole region, giving investors access to the Middle East, the European and the African markets.

The ambassador has invited Indian companies to develop an Indian industrial city beside the Suez Canal corridor.

Another Egyptian official said that Cairo has proposed six agreements to facilitate trade with India. Once these pacts are concluded, trade between the two countries would reach USD 7-8 billion over the next three-four years.

Titagarh Wagons will invest USD 500 million in a wagons manufacturing unit in Egypt soon, the official said.

The tourist flow from India to Egypt has increased by 28.3 percent, though there was scope for more growth. The two countries are looking at the possibilities of starting a direct flight from Cairo to New Delhi.