By IANS
Cairo : The first ever “Made In India Show” commenced here Wednesday with over 100 Indian exhibitors showcasing their products under the aegis of the Confederation of Indian Industry (CII).
“India is fast becoming one of the most flourishing economies thanks to the process of economic liberalisation and global integration,” A. Gopinathan, Indian Ambassador to Egypt, said at the inauguration of the four-day event.
“With the government encouraging investment in the country, an increasing number of international investors are tapping the booming Indian market. Indian investors are also investing abroad like never before,” he added.
“India and Egypt have had a longstanding relationship. This is an attempt by both countries to make a positive contribution to the industry by profiling the latest trends and developments in various sectors,” said Mamdouh Moustafa, first undersecretary, Egyptian commercial service, ministry of trade and industry.
The show would have a hydrocarbon pavilion showcasing the strength of public sector majors such as GAIL (India) Ltd, Hindustan Petroleum Corp Ltd, Indian Oil Corp Ltd, ONGC Ltd, Oil India Ltd and Bharat Petroleum Corp Ltd.
The Indian auto components sector would also be well represented at the event with the presence of manufacturers such as Apollo Tyres and JK Tyres along with other key auto components manufacturers from the small and medium sector.
Some of the other participants in the exhibition are Kirloskar Brothers Ltd, Marico India, Maruti Piston Pvt Ltd, Rites Ltd, Tata Chemicals Ltd, Tata Motors Ltd and Tea Board of India, among others.
“Made in India Show in Cairo is a tribute to Indian enterprise and entrepreneurship that have created the growth story in our country. It is this same spirit that we look upon to give a big leap forward to our bilateral economic relations,” said Rajive Kaul, former president, CII.
He further mentioned the immense possibility for joint investments and collaborations in the areas of small and medium enterprises, banking, IT, telecom, high-tech sectors, power, pharmaceuticals and textiles.
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.
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 the Middle East and northern Africa.
India’s investments to Egypt are expected to cross $1.5 billion by 2009.