Brand India heads to land of pharaohs
A CII team from India is visiting Egypt from Nov 20-23 to explore investment opportunities between the nations.india Updated: Nov 18, 2007 20:12 IST
Leaders of Indian industry, under the aegis of the Confederation of India Industry (CII), are visiting Egypt on November 20-23 to explore investment opportunities and strengthen bilateral trade relations between the countries.
The two-day event, organised by CII in association with the Indian embassy, will be held at International Exhibition and Fair Grounds, Cairo.
A four-day exhibition, to be launched there, will also include a seminar on investment opportunities in Egypt and in India. It would showcase made-in-India products of over 100 firms.
The "Made in India" (MII) show is an initiative of the CII to promote 'Brand India' and the overseas Indian industry.
CII will also be taking a CEO delegation to Egypt coinciding with the MII show. The delegation, which would consist a large number of Indian companies both in the public and private sector, would have meetings with Egyptians government officials and businessmen.
Some of the prominent participating companies include Godrej Consumer Products, Kirloskar Brothers, Tata Chemicals, Tata International, Tata Motors and Tata Projects.
MII would also have a hydrocarbon pavilion showcasing the strength of public sectors major such as GAIL (India) Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd, ONGC Ltd, Oil India Ltd and Bharat Petroleum Corporation Ltd.
The Indian auto components sector would also be well represented at MII with the presence of manufacturers such as Apollo Tyres, JK Tyres along with other key auto components manufacturers from the small and medium sector.
Trade between India and Egypt stood at $2.5 billion in 2006-07. India is Egypt's third largest trading partner, after the US and Italy. Its exports to Egypt crossed $761 million while Egypt's exports to India, mainly oil and gas, reached $1,743 million.
India is also Egypt's 12th largest foreign investor with a total investment of approximately $700 million in close to 40 projects. Egypt acts as a major gateway for India to trade with Middle East and North Africa.
India's investments to Egypt are expected to cross $1.5 billion by 2009.