Arab Finance: Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Indian Minister of Industry and Supply Piyush Goyal agreed to boost trade exchange between Egypt and India to $12 billion over the next five years, as per a statement.

In 2024, trade exchange between the two countries hit $4.2 billion.

The meeting discussed ways to foster economic relations between the two countries as well as plans to expand bilateral trade and joint investments during the coming period.

El-Khatib highlighted the state's interest in attracting more Indian investments in key sectors, including renewable energy, chemicals, the automotive industry, textiles, and information and communications technology (ICT), among others.

He stressed the government's readiness to provide all forms of support and facilities to Indian investors.

The minister also touched upon major Indian investments in the energy sector, such as the signing of two deals for green hydrogen and green ammonia production in Egypt at an investment cost of up to $12 billion.

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