India-Egypt Relations

India-Egypt Relations

News: The recent visit of PM Modi to Egypt was hailed as a potential “game changer” for bilateral ties and a ladder for Egypt to gain entry to the BRICS economic bloc.

Key Takeaways:
• PM Modi and Egyptian President Abdel Fattah El-Sisi held bilateral talks and reviewed the entire gamut of bilateral relations, regional and international issues of mutual interest.
• The two leaders witnessed the signing of several agreements and memoranda of understanding in various fields such as trade, investment, defence, security, culture, education, health, tourism, agriculture, renewable energy and civil aviation.
• Modi announced a $1 billion line of credit to Egypt for infrastructure development projects and a $50 million grant for community development projects.
• PM Modi also announced that India will support Egypt’s bid to join the BRICS economic bloc as a full member and invited El-Sisi to attend the BRICS summit in New Delhi in September
• PM Modi visited the 11th-century Al-Hakim mosque, which was renovated with assistance from the Dawoodi Bohra community, and interacted with the members of the community and other Indian diaspora.

India-Egypt Trade and economic opportunities:
• Bilateral trade between the two countries in 2021-22 was over $7 billion. India’s exports amounting to $4.76 Billion and imports from Egypt amounting to $2.5 Billion.
• The main items of India’s exports to Egypt are petroleum products, automobiles, machinery, cotton yarn, textiles, chemicals, pharmaceuticals, rice and tea. The main items of India’s imports from Egypt are crude oil, rock phosphate, fertilizers, chemicals, cotton and dates.
• Egypt’s strategic location (12 per cent of global trade passes through the Suez Canal) and role as a major market make it important for India. It offers important gateway to the Gulf States and North Africa.
• India is looking at increasing investments in the country, especially in major infrastructure projects in and around the Suez Canal, and special economic zones in Alexandria and Cairo.
• India is planning to supply LCA Tejas, missiles like Akash, DRDO’s Smart Anti-Airfield Weapon and radars.

Other aspects of the visit:
• Egypt conferred PM Modi with the highest state honour, Order of the Nile, which was acclaim for the Indian Prime Minister's growing stature in world politics. It was the 13th state honor for Modi in his ninth year as PM.
• During his visit, PM Modi also paid tribute at the Heliopolis War Cemetery in Cairo to Indian soldiers who laid down their lives during World War I fighting for British India. The Heliopolis (Port Tewfik) Memorial commemorates nearly 4,000 Indian soldiers who died fighting in Egypt and Palestine in the First World War.