Egypt: IT, textiles, healthcare, renewables can drive trade with India to over double the current value

Ambassador of Egypt to India Kamel Galal told CNBC-TV18 that bilateral trade with India can grow from the current $5 billion to $12 billion in the coming years, driven by India’s strengths in manufacturing and services, complemented by Egypt’s strategic location and natural resources.On avenues for increasing bilateral trade, he indicated that logistics via the Suez Canal route offers $500 million in potential for software for port automation.Stating that gems trade had surged 30% last year, he projected that joint fashion hubs in the Suez area may add $800 million in trade, with sectors like healthcare and textiles also expected to gain.Indicating that India’s $200 billion IT sector may tap into Egypt’s digital transformation, he cited challenges with food inflation as an opportunity for value-added processing (ready-to-eat foods) to raise trade to $1 billion by 2026 via agro-parks.Pointing to Egypt’s imports of Indian basmati rice, spices, and fruits worth $300 million in 2024, he described solar panel imports from India as a focus area as Egypt aims for 42% renewable energy by 2030. Having recently inaugurated the Grand Egyptian Museum (GEM), the world’s largest museum dedicated to a single civilisation, the African country is also looking to attract more international tourists in the future.

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