Egypt positions itself as India’s commercial gateway to Africa-Southern Europe-Arab world

Senior Egyptian official Yahya Elwathik Bellah held a series of meetings with executives from major Indian companies in New Delhi recently to attract Indian investments to one of Africa’s promising markets that also enjoys geographical advantage and political stability.

The Egyptian government is in talks with an Indian carbon black manufacturer to establish a $60 million production plant in the Arab country, according to statements issued by the Egyptian Commercial Service (ECS). Bellah as head of ECS held discussions with the Indian manufacturer.

Birla Carbon, the world’s largest producer and supplier of carbon black, currently operates a manufacturing facility in Egypt in Alexandria.

Bellah speaking to ET during his recent visit highlighted Egypt as the gateway for Indian businesses in Africa, Arab World and Southern Europe and is offering several facilities and incentives to Indian corporates including through logistics and duty-free access to several markets. Indian companies can explore investment opportunities in the fields of renewable energy, green hydrogen, ICT, textiles, auto feeding industries, and agribusiness in Egypt, according to Bellah.

During Bellah’s visit, Indian company Welspun expressed its intention to set up a textile project in Egypt to help it enter African markets and boost exports to European, Arab, and US markets.

The Welspun’s representatives delved into discussions regarding investment costs associated with land acquisition, energy pricing, labor, and available incentives, particularly within the Suez Canal Economic Zone.Bellah also held discussions with executives from Air India, India’s national carrier, exploring the establishment of a direct flight route connecting Cairo and New Delhi.The discussions also encompassed strategies to enhance transportation, tourism, and trade ties between the two nations.

Bellah also met with representatives from Ocior Energy, an Indian company, to review progress on their planned green ammonia production project in Ain Sokhna.

The company this year concluded a $4.3 billion agreement with the Suez Canal Economic Zone to develop the plant at the Port of Ain Sokhna.