{"id":21013,"date":"2023-02-01T06:42:02","date_gmt":"2023-02-01T06:42:02","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=21013"},"modified":"2023-02-01T12:56:57","modified_gmt":"2023-02-01T12:56:57","slug":"egypt-looks-to-india-to-grow-retail-and-other-markets","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/02\/01\/egypt-looks-to-india-to-grow-retail-and-other-markets\/","title":{"rendered":"Egypt looks to India to grow retail and other markets"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<a href=\"https:\/\/www.meretailnews.com\/2023\/01\/31\/paymob-partners-with-khazenly-to-digitalise-egyptian-merchants\/\">Egypt<\/a> is furthering its trade relations with India in order to increase economic growth. According to a statement, the retail industry will be an important aspect of this relationship.<\/p>\n<p>The statement added that the volume of non-oil trade exchange between Egypt and India during the first 11 months of 2022 totaled about $4.1 billion, of which $723 million were Egyptian exports.<\/p>\n<p>Egyptian Minister of Trade and Industry Ahmed Samir said the value of Indian investments in <a href=\"https:\/\/www.meretailnews.com\/2023\/01\/30\/gmg-to-open-sun-sand-sport-and-nike-stores-in-egypt\/\">Egypt<\/a> amounts to about $3.2 billion in 52 projects. Mr. Samir also pointed out that there are many distinct investment opportunities available in the Egyptian market for Indian investors.<\/p>\n<p>More than 50 Indian companies have already invested around $3.15 billion in diverse sectors of the Egyptian economy. including retail, textile, garment, and agri-business.<\/p>\n<p>To further bolster these ties, Egyptian president Abdel Fattah El-Sisi was in New Delhi 24 January for a three-day state visit, which was focused on ramping up defence, political, energy and economic ties.<\/p>\n<p>Sisi was accompanied on the three-day visit by a high-level delegation including five ministers and senior officials to participate to wide-ranging talks, which were expected to end with the signing of half a dozen agreements. This included talks to increase the countries&#8217; non-oil trade as well.<\/p>\n<p>This visit was a successor to Indian foreign minister S. Jaishankar&#8217;s trip to Cairo, where he addressed a meeting at the India-Egypt Business Forum. The event was attended by representatives from the retail, pharmacy, manufacturing, and other industries.<\/p>\n<p>Meanwhile, Indian ambassador to Cairo Ajit Gupte said that both countries need to strengthen joint cooperation between the federations of industries and chambers of commerce to bolsters India-Egypt trade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt is furthering its trade relations with India in order to increase economic growth. According to a statement, the retail industry will be an important aspect of this relationship.\u00a0<\/p>\n","protected":false},"author":42,"featured_media":18385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[3973,1304],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21013"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=21013"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21013\/revisions"}],"predecessor-version":[{"id":21021,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21013\/revisions\/21021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18385"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=21013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=21013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=21013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}