After a lull due to the Covid-19 pandemic, Egypt started to organize trade fairs with physical participation since August 2021. More than 10 delegations of Indian companies from FIEO, TPCI, Wool and Woolen Export Council, PHARMEXCIL, EEPC, TEXPROCIL, etc. participated in Trade Fairs in Egypt between August 2021 and June 2022, the Indian Ambassador to Egypt said.
Ajit Gupte added, “It is noteworthy that President Sisi inaugurated the India pavilion during the recently concluded Africa Health ExCon in June 2022, which is a testament to the importance of Indian pharmaceutical companies supporting the health system. in Egypt by providing high quality affordable pharmaceutical products like APIs. , serum, etc.
“About 50 Indian companies have invested in various sectors in Egypt with a combined investment exceeding US$3.15 billion. Major Indian investments in Egypt include TCI Sanmar (with the largest investment of US$1.5 billion), Alexandria Carbon Black, Kirloskar, Dabur India, FLEX P. FILMS, SCIB Paints, Godrej, Mahindra and Monginis.
He noted that Indian companies are present in a range of sectors such as garments, agriculture, chemicals, energy, automotive, retail and others. Overall, these companies provide direct employment to around 38,000 Egyptians.
The Ambassador explained that Indian companies like L&T and Sterling & Wilson have also executed projects in Egypt, in the energy and telecommunications sectors. Most of these Indian companies like TCI Sanmar also have additional investments in the pipeline.
Indian companies have also carried out projects in Egypt. L&T successfully completed Toshka 2 – Wadi Halfa