India and Egypt have solidified their strategic partnership through a joint declaration signed by Indian Prime Minister Narendra Modi and Egyptian President Abdel-Fattah El-Sisithis June.
The declaration aims to enhance cooperation between the two nations, reflecting their shared heritage and commitment to strengthening bilateral relations. Discussions between the leaders covered a range of topics, including trade exchange, investments, regional and international issues, and cultural exchange. The visit also marked the invitation extended by PM Modi for Egypt's participation in the upcoming G20 meetings in New Delhi.
The value of trade exchange between Egypt and India has seen a notable increase, reaching $6 billion in 2022, demonstrating the growing economic ties between the two countries. Egyptian exports to India accounted for $1.9 billion, while imports from India amounted to $4.1 billion. Key export commodities from Egypt to India included mineral fuels, fertilizers, and inorganic chemical products, while important imports from India included meat, iron and steel, and organic chemical products. Additionally, Indian investments in Egypt surged by 36.8% in the first half of the fiscal year 2022/23, amounting to $33.1 million.
The visit emphasized the desire to expand cooperation in various sectors, such as communications, information technology, pharmaceutical manufacturing, renewable energy, and higher education. The leaders also explored ways to facilitate tourism and cultural exchange by increasing direct flights between Cairo and New Delhi. As a gesture of appreciation, President El-Sisi conferred the Order of the Nile, Egypt's highest state honor, on PM Modi. This visit holds significance as it marks the 75th anniversary of diplomatic relations between Egypt and India, showcasing their enduring partnership and shared aspirations for mutual growth and development.