During his visit to New Delhi, Dr Mohamed Morsi, Egypt’s President, had a meeting with a delegation from the TATA Group, an Indian multinational conglomerate company. It encompasses seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals.
The Egyptian side represented by the Egyptian Ministers of Industry and Foreign Trade, Investment, Tourism and Communications.
The Egyptian president promised to facilitate TATA’s investments in the country, and encouraged other Indian companies to follow in its footsteps by investing in Egypt.
The Tata delegation expressed great interest in investing in Egypt, and offered to send a team of technical experts “as soon as possible” to discuss the establishment of a solar cell-making factory in Egypt.
It is worth referring that India is currently Egypt’s seventh largest trading partner, with trade between the two countries valued at $4.2 billion in the fiscal year ending in June 2012.