Indian investments in Egypt exceed $3 bln – ambassador

Indian investments in Egypt are surpassing $3 billion, India’s Ambassador to Egypt Rahul Kulshreshth announced on Monday.

Kulshreshth made his remarks during a meeting with Egyptian Minya Governor Qasim Hussein during the International Day of Yoga, which is organised by the Indian Embassy in Upper Egyptian city of Minya.

“The volume of bilateral trade between Egypt and India amounts to $4 billion per year,” Kulshreshth said.

The bilateral trade is likely to increase within the upcoming years, if the Egyptian economy continues to grow, the official news gazette MENA agency reported.

This year, the number of Indian tourists visiting Egypt reach so far 126,000, compared with 60,000 in 2014 given the political and security stability the North African country currently enjoys, added the ambassador.