Commerce and Industry Minister Piyush Goyal is leading a business delegation to Egypt to promote bilateral trade. India currently eyes bigger trade and investment ties with the nation. "I believe it's just a beginning; it cannot be our destination; the sky's the limit," Goyal said during his two-day visit.
India's Commerce and Industry Minister Piyush Goyal is leading a business delegation to Egypt to promote bilateral trade. The bilateral trade between India and Egypt currently stands at approximately USD 6.5 billion, indicating potential for growth. Goyal emphasized the importance of two-way trade and investment opportunities for both nations. India has focused on expanding its global trade agreements, aiming for increased market access.
Cairo: India is looking to expand trade and investment opportunities in Egypt, widen market access for its goods and services, and encourage imports of Egyptian products and capital inflows into India to foster mutually beneficial economic cooperation, Commerce and Industry Minister Piyush Goyal said.
But for the size of the two economies, "I believe it's just a beginning; it cannot be our destination; the sky's the limit", he said here late last evening.
India's exports to Egypt during 2025-26 amounted to USD 3.87 billion, and imports stood at USD 2.60 billion.
India's major exports to Egypt include meat and poultry products, petroleum products, organic chemicals, cotton and machinery, and its major imports include crude petroleum, fertilisers, cotton and mineral products.
"We are looking at investment opportunities in Egypt; we are looking at marketing our goods and services...we are looking at Egyptian products coming to India and investments coming to India in areas of Egypt's strength, because ultimately trade has to be two-way. It has to be a win-win between the two nations," Goyal said, adding that the two countries need to aim for high trade numbers.
Goyal is here on a two-day visit. He is leading a 132-member
business delegation. During his visit, he will meet business leaders and Egyptian leaders to discuss ways to boost bilateral trade and investments.
India has received only USD 11.5 million in
foreign direct investment from Egypt between April 2000 and June 2026.
He also said that India has made trade the centre point of its economic agenda.
"We are opening the doors for greater competition with the world, opening the doors of markets across the world for preferential access for Indian goods and services, particularly with our friendly countries. Towards that end, we have expanded our free trade agreements to many more developed nations," he added.
In the last five years, India implemented trade pacts with Mauritius, Australia, UAE, Oman, the EFTA bloc, New Zealand and the UK. A trade agreement with the EU will be signed next month.
Further, India is negotiating trade pacts with regions and countries, including Canada, Chile, the South Africa-led SACU group, Brazil-led Mercosur, and Russia-led EAEU bloc.
After these pacts, India will get preferential market access for its goods to a global GDP of USD 85 trillion out of USD 115 trillion.
He suggested the ICAE prepare a business guide for businesses to engage with each other.
"Maybe you need to create a new 'Periplus' for businesses to engage between India and Egypt," Goyal said.
Periplus refers to an ancient guidebook or account of sea routes and trading ports.