No. PR- 061
June 15, 2021
New Delhi
Indian Companies need to take advantage of Egypt’s geographical location to access the Europe, Middle East and Africa market
Indian Companies need to seriously consider the advantage of Egypt’s geographical location to access Europe, Middle East and Africa market. Egypt is a politically stable country and has a very liberal economy which has enabled Indian industry to invest more than USD 3.15 billion in Egypt mentioned H.E. Mr. Ajit Gupte, Ambassador of India to the Arab Republic of Egypt with concurrent accreditation to the Arab League in the virtual inaugural session themed “India – Egypt Business Promotion, Challenges, and Opportunities” of the 3P Egypt International Expo 2021 being held from 15-16 June 2021.
While deliberating about the historic and bilateral relation shared between India and Egypt, H.E. Mr. Ajit Gupte mentioned that bilateral trade and export has been increasing between the nation in a calibrated manner. India has been Egypt’s one of the largest export destinations and one of the largest forces for imports. Upsurge in the e-commerce segment, the rising awareness of the usage of sustainable, biodegradable and recycling printing and packaging among the Egyptian market population is also driving the growth of the Printing, Packaging and Paper market.
Dr. Srikar K Reddy, Joint Secretary, FT (WANA) Department of Commerce, Ministry of Commerce and Industry, Government of India informed that with an increase in the trade, there is significant potential to diversify India’s trade baskets which will help to enhance the bilateral trade between the two countries. He mentioned that due to its strategic location and multiple free trade agreements, there is a significant opportunity for Indian businesses to increase trade and investment.
Mr. Prem Anveshi, Managing Director, Futurex Trade Fair & Events Pvt. Ltd discussed with advantages of Virtual Events and Exhibitions to enhance global trade and business relations in these uncertain times.
Mr. Sanjay Aggarwal, President, PHDCCI in his presidential address deliberated about the deep-rooted relationship shared between India and Egypt based on the long history of contacts in cooperation, bilateral, regional, and global issues. He shared that India is one of the largest trading partners of Egypt in terms of import-export of goods and services. India’s top exported items to Egypt in recent years were Petroleum Products, Cotton Yarn Motor Vehicle/Cars, Processed Minerals, and Buffalo Meat. India’s top imported items from Egypt were Crude Petroleum, Manufactured Fertilizers, Inorganic Chemicals, and Crude Fertilizers.
He mentioned that Indian companies are operating in all major sectors of the Egyptian economy including textiles and garments, power, chemicals including specialty chemicals, adhesives, pharmaceuticals, IT, paints, consumer goods, healthcare, PVC, caustic soda, PET Resin, plastics, paper, packaging, auto, and auto-component and trading.
Talking about the Indian Packaging Market, Mr. Aggarwal deliberated about the increase in its demand in both nations and the need for raising awareness of the usage of sustainable printing and packaging. While both the countries are putting the best foot forward in the printing, paper, and packaging sector, their substantial scope of growth and collaboration between the nation in the coming years.
Mr. Ajit Gupta, Co-Chair, Packaging Committee, PHDCCI while sharing industry perspective mentioned that investments between both the nations have been steady even during the times of the pandemic is an indication of the close relations shared by India and Egypt for years. He mentioned that while the packaging is growing at a fast pace in India, sustainable and eco-friendly packaging is the need of the hour.
Mr. J Pillai, Co-Chair, Packaging Committee, PHDCCI while delivering a formal vote of thanks to all the delegates and participants mentioned that the continued expansion of the packaging and allied industries will lead to demand generation globally, especially in the high growth regions of the world.
PHD Chamber is participating as INDIA PAVILION with support of Department of Commerce, Govt of India with 50+ Companies at The 3P Egypt Expo – Virtual International Expo for Paper, Printing, Packaging and Plastics sectors scheduled from 15 -16 June 2021, besides other participants from Nepal, Bangladesh, Sri Lanka, Iran, Turjey, Taiwan and Egypt.
The session was attended by Mr. Saurabh Sanyal, Secretary General, and moderated by Mr. Naveen Seth, ASG, PHDCCI, and was attended by over 200 industry members from India and Egypt.
PHD Chamber of Commerce and Industry’s webinar was supported by DLF India; UFLEX Ltd; Multani Pharmaceuticals Ltd; JK Tyre & industries ltd; Marble City; Paramount Cables ltd; SMC Investments and Advisors Limited; Blossom Kochhar Aroma Magic; DCM Shriram Industries Ltd; Radico Khaitan ltd; Timberworkz, Synergy Environics Ltd, Comtech Interio and IFFCO.
End
Media Division
PHD Chamber of Commerce and Industry