Cairo: As part of the efforts of the Egyptian Commercial Service (ECS) to strengthen trade and investment relations between Egypt and India, the Egyptian Commercial Office in New Delhi, headed by Commercial Counselor Mohamed Abdel Meguid, organized a virtual meeting focused on the textile and ready-made garment industry.
According to State Information Service Egypt, the meeting included the participation of ten leading Indian companies operating in the sector, along with the Confederation of Indian Textile Industry (CITI). The meeting was held in coordination with the Investment Promotion Department of the ECS, the Ready-Made Garments Export Council, and the Textile Export Council.
The meeting discussed prospects for cooperation and joint investment in the textile and garment sectors, which are among the most strategic and competitive industries in both countries. Presentations were delivered by the export councils and the Egyptian Commercial Office, showcasing detailed information on Egypt's investment climate and the advantages of establishing production and export-oriented projects targeting regional and international markets from Egypt.
The presentations also highlighted Egypt's competitive production costs and its network of international trade agreements with major markets such as the United States, the European Union, the Middle East, and Africa, offering Indian companies facilitated access to markets with over 1.5 billion consumers. Participants from both sides emphasized the importance of the meeting as a practical step toward strengthening cooperation between the Egyptian and Indian textile and garment industries, paving the way for future industrial and investment partnerships.
The meeting concluded with a proposal to organize a visit by a delegation of Indian companies to Egypt in the near future to explore the available industrial opportunities and capacities firsthand, and to hold B2B meetings with their Egyptian counterparts. In this context, Minister Plenipotentiary Dr. Abdel Aziz El-Sherif, First Undersecretary of the Ministry of Investment and Foreign Trade and Head of the ESC, stated that economic relations between Egypt and India are witnessing steady growth, noting that around 55 Indian companies currently operate in the Egyptian market with total investments estimated at about USD 3.75 billion in various sectors including chemicals, energy, textiles, and pharmaceuticals.
Dr. El-Sherif added that there is an increasing trend among Indian companies to inject new investments or expand existing ones in Egypt, whether in sectors that have already proven successful or in new fields where Egypt enjoys a comparative advantage, such as textiles and ready-made garments. He emphasized that this reflects the Indian business community's confidence in Egypt's investment environment, which offers incentives, guarantees, and facilitations for foreign investors.
Dr. El-Sherif concluded by affirming that the ECS will continue to support communication and coordination between Egyptian and Indian companies, facilitate bilateral meetings and reciprocal visits, and contribute to expanding joint investments and increasing Egyptian exports to the Indian market, within the framework of the longstanding and distinguished relations between the two countries.