Indian companies to invest $1B in Egypt by 2025
Updated 10/2/2024 8:31:00 AM
Arab Finance: Eight Indian companies are looking to invest nearly $1 billion in Egypt by 2025, a government official told Asharq Business.
These investments will focus on projects in renewable energy, green hydrogen, bus assembly, and industry.
Indian business delegations are expected to visit Egypt soon to explore investment opportunities, the official noted.
This new wave of funding could increase India's total investments in Egypt to around $5 billion next year, up from the current $3.5 billion.
Additionally, trade between Egypt and India is projected to grow by 15% to $8.5 billion in 2025, from the $7.4 billion target for this year and around $6.5 billion in 2023.
Egypt’s key imports from India include meat, machinery, and steel, while its main exports to the south Asian country are fertilizers, cotton, and sulfur.
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