Egypt has made a bold pitch to deepen its economic ties with India, with Foreign Minister Badr Abdelatty pressing for fresh Indian capital and a sharp jump in bilateral trade. The push came during high-level talks with India’s Commerce Minister Piyush Goyal on the sidelines of the BRICS foreign ministers’ meeting in New Delhi on Friday. The two sides are now eyeing a $12 billion trade target, with new sectors and big-ticket projects on the table.
Top Egyptian and Indian Ministers Lock in Delhi Talks
Abdelatty sat down with Goyal on May 15, 2026, in a closed-door meeting that lasted through the morning session of the BRICS gathering. The Egyptian minister used the platform to reaffirm Cairo’s commitment to courting Indian capital across multiple industries.
Goyal called the discussion “productive” on his X account, signalling that both governments are ready to fast-track stalled commercial files.
“Discussed opportunities to deepen India-Egypt economic cooperation through enhanced trade & investment, connectivity, infrastructure collaboration & stronger business-to-business engagement,” Goyal said on X.
The meeting followed Abdelatty’s separate sit-down with Prime Minister Narendra Modi on Thursday, where the Egyptian envoy laid out his country’s full economic playbook. Foreign Minister Badr Abdelatty highlighted the objective to boost trade exchange with India to $12 billion over the coming five years as he met on Thursday with Indian Prime Minister Narendra Modi.
$12 Billion Trade Target Sets New Course for Bilateral Ties
The headline number is hard to miss. Egypt wants to roughly double trade with India over the next five years, a leap that requires fresh muscle from private firms on both sides.
The current baseline tells its own story. According to the Egyptian Central Agency for Public Mobilisation and Statistics, India was the sixth most important trading partner for Egypt in FY25, when overall bilateral trade was $5.2 billion ($3.84 billion exports to Egypt and $1.3 billion imports from Egypt).
Abdelatty pointed to recent reforms in Cairo as proof the climate has changed. He underscored various monetary policy measures and the adoption of a flexible exchange rate system, which have helped improve economic performance, boost Egypt’s credit rating and strengthen the investment climate.
| India-Egypt Trade Snapshot | Figure |
|---|---|
| Current bilateral trade (FY25) | $5.2 billion |
| Five-year target | $12 billion |
| Indian FDI stock in Egypt | Around $4 billion |
| Indian companies operating in Egypt | About 50 to 55 |
| Jobs created for Egyptians | Roughly 38,000 |
Indian Firms Get Special Invite to Suez Canal Zone
Cairo is dangling its biggest asset: prime land along the world’s busiest shipping corridor. He encouraged Indian companies to expand their investments in Egypt, particularly in the Suez Canal Economic Zone, given its competitive incentives and access to regional and international markets. Addressing the BRICS session, Abdelatty expressed Egypt’s aspiration to further strengthen economic cooperation among the bloc’s members and advance joint projects in energy, manufacturing, infrastructure and advanced technology.
Egypt is even floating a dedicated industrial cluster for Indian firms. “We have a special industrial zone for China in this region, and for Russia. We are also encouraging to have an Indian industrial zone alongside the Suez Canal Economic Zone, and we are providing all kinds of facilitations, all kinds of incentives to the Indian companies.”
The market access argument is just as loud. “It’s not only the Egyptian market, even the Egyptian market is 120 million people, 110 million Egyptians and 10 million refugees living in Egypt. It’s a huge market. And don’t forget the fact that we have an FTA arrangement with a lot of blocs, including the Africa Continental Free Trade Agreement, the Arab Free Trade Agreement, the Association Agreement between Egypt and the European Union,” he added.
From AI to Pharma, the Sector List Goes Wide
The Delhi meeting did not stop at trade volumes. The two ministers walked through a long shopping list of industries.
“Also, explored avenues in sectors such as pharmaceuticals, energy, logistics, digitisation, AI, tourism & manufacturing, while reaffirming our shared commitment to expanding the strategic partnership between the two countries,” the Minister said.
Indian capital is already busy on the ground in Egypt. Here is where the money is flowing:
- Green hydrogen: Renewable energy companies ReNew and OCIOR have signed agreements worth $8 billion and $4 billion, respectively with the Egyptian government for setting up of green hydrogen plants.
- Petrochemicals: The major investment remains that of TCI Sanmar in Port Said (over USD 2 billion invested in a petrochemical complex, to which will be added USD 300 million for an ethylene receiving station and the expansion of production capacity).
- Fertilizers: Egypt’s Suez Canal Economic Zone (SCZone) has emerged as a lucrative destination for Indian investments, with firms like Indorama planning a US$600 million greenfield fertilizer plant.
- Pipeline projects: Another $700-800 million worth of investments are in the pipeline.
Abdelatty also flagged plans to set up a Joint Business Council and an Egypt-India Chamber of Commerce, two mechanisms that would give private players a direct seat at the table.
BRICS Stage Adds Bigger Strategic Weight
The bilateral push landed inside a much larger diplomatic moment. India is set to host the BRICS Foreign Ministers’ Meeting in New Delhi on May 14 and 15 under its 2026 chairship of the expanded bloc, at a time of intensifying geopolitical tensions in West Asia and mounting demands for reforms in global governance institutions.
The choice of timing was not random for Cairo. BRICS is an intergovernmental bloc of major emerging economies and developing countries, originally founded by Brazil, China, India and Russia, and later expanded to include seven additional members to date, including Egypt.
India’s own theme for this BRICS year ties neatly into the Egyptian pitch. India recently unveiled the official logo and website for its BRICS 2026 chairship under the theme, “Building for Resilience, Innovation, Cooperation and Sustainability.”
“We are part of any connectivity projects linking East with the West, linking the Mediterranean with Southeast Asia, Gulf countries, and we are open for joining any projects of connectivity,” Abdelatty has said on Egypt’s strategic role.
Abdelatty also raised the Suez Canal’s central role in global trade with Modi, pitching Egypt as a natural bridge for Indian goods moving into Europe and Africa. Their talks also addressed cooperation on international connectivity and trade corridors, particularly in light of Egypt’s advanced infrastructure linking the Red Sea and the Mediterranean, as well as the strategic role of the Suez Canal in global trade.
For Indian exporters facing Red Sea shipping disruptions in recent years, the message from Cairo is simple. Build inside Egypt, ship from Egypt, and reach three continents without a long ocean detour. The deal flow already shows momentum, the political will is now public, and the next test will be how fast boardrooms in Mumbai and Cairo turn handshakes into factory floors. If the $12 billion goal lands on time, thousands of jobs and millions in fresh investment could reshape ties between two ancient civilisations stepping into a very modern partnership. Share your thoughts in the comments below and tell us whether you think Egypt and India can hit that big trade number on time.
