Diplomacyindia.com


Agro exports, line of credit to strengthen India-Egypt economic ties: Envoy

Agro exports, line of credit to strengthen India-Egypt economic ties: Envoy
May 22
10:14 2018

Kolkata, May 21 (IANS) Pointing out that trade exchanges between India and Egypt have picked up pace in the last one year, outgoing Indian Ambassador to the Arab nation Sanjay Bhattacharya on Monday said the growth in agro-exports from India to Egypt and its acceptance of India’s line of credit facility can further boost bilateral economic ties.

“The trade exchanges between India and Egypt have a scope of improvement. It reached around $5.5 billion in 2012 but has been on the decline since the Egyptian revolution. However, last year there was 15 percent increase in the trade between the two countries,” said Bhattacharya, who would shortly be moving to Turkey as Ambassador.

“There has also been a growth of agro-exports. Egypt relies entirely on irrigation for its cultivation. There are some issues about the Nile water resources. India can emerge as a long time reliable agricultural supplier,” he noted.

The envoy said India’s line of credit of $10 billion to the African countries have also been accepted by the Egyptian government which would lead to much closer collaboration in the economic field.

“Economic pillar is one of the strongest fundaments of the Indo-Egyptian relationship right now. There are about 450 Indian companies registered in Egypt, among which there are 50 large companies that has combined investment of nearly $3 billion,” he said.

About the prospects of Indian investors in Africa and in the Middle East, Bhattachaya said the businessmen should cash in on these countries’ common appreciation of India as a growing economy.

“It is important to note that across the Middle East there is an appreciation of India in maintaining a pluralistic society. It is highly impressed by India’s efforts to create a democratic niche along with massive economic development. The Arab world is also interested about the SNPs, specially in IT space, health and education.

“There are more opportunities for the Indian investors in Middle East and for that matter in Africa as the countries have an India preference. The Middle East has four major power houses at present – Saudi-Arabia, Egypt, Iran and Turkey – and the good thing is India has very good relationship with all four countries. The opportunity to do business or work out a good economic relationship is equally good in all these places,” he added.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

Social Icons

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on an eventful journey of Indian Passport through its serveral phases, fast expanding network of passport seva kendras, evergrowing numbers, citizen centric service & new Initiatives

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on safety & security features of the passport documents in an era of digitalisation his cherished moments & milestones as “Passport Man” of India tranforming the entire passport landscape.

Diplomacyindia.com Video Interview : Mrs. Reva Ganguly Das (IFS) Director General, Indian Council of Cultural Relations Speaking on Yoga Day Celebrations

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on the journey of ISA so far, guiding principles, vision & priority areas & programmes for ISA.

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on expanding rank of international solar alliance & opening the membership to the countries beyond tropics.

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H.E. Mr. Jozef Drofenik speaking on Bilateral Relations and Trade between India and Slovenia

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H. E. Mr. Jozef Drofenik speaking on Tourism in Slovenia

Pictures of Formal Launch of Website Diplomacyindia.com

Knowledge Partner

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP Facebook Auto Publish Powered By : XYZScripts.com