Egypt has started talks with India for the establishment of India Economic Zone at the Suez Canal Economic Zone.
The zones is expected to be modeled after the ones in Russia and China.
The north African country is also looking at asset-light industries like food processing, packaging and IT.
The Egyptian ambassador Heba Salaheldin Elmarassi said the country expects the bilateral trade with India to double to $8 billion by 2022.
India Inc led by over 50 companies have already invested over $3 billion across Egypt, she said.
“Indian companies are welcome to explore emerging investment opportunities in the economic zone, especially in sectors like chemicals, petrochemicals, pharma, textiles, and auto & auto components among others,” Elmarassi said.
“Companies from agricultural and agri-processing, IT, telecom, power, renewables are also welcome to explore investment opportunities in the economic zone,’’ she added.
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