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Posted on Oct 28, 10:49AM | UNI
A FICCI survey on 'The Impact of Political and Social Instability in Egypt on Indian Trade and Investment' clearly reflects that Indian businesses are positive about the newly-elected Egyptian Government.
They are looking forward to an economic reform plan that would encourage growth and foreign capital flows into Egypt, the survey said.
Bilateral trade between India and Egypt has increased by over 60 per cent in 2011-12 from last year. This, combined with the strategic location of Egypt and the market access it offers to Europe and the Middle East, would ensure Egypt remains a focused area of investment and trade for India.
As the Egyptian economy gears up for a revitalised role in the country's development process it is time for India and Egypt to chart a fresh map of cooperation and create a win-win scenario for each other. The two countries should continue with positive outlook to enrich their collaboration further in the new political dispensation in Egypt, the survey revelead.
The Indian corporate presence in Egypt, supported by an investment of approximately 2.5 billion dollars by 50 companies across sectors, has remained unaffected by the long months of turmoil, it added.
FICCI conducted the survey to adjudge the impact of political and social instability in Egypt on Indian trade and investment.
The survey was carried out in the months of August and September this year and drew responses from 33 companies, which have either investment in Egypt or dealing with export and import of goods to and from Egypt, or looking forward to invest and expand their operations in Egypt.