India can be Egypt's natural partner: Indian envoy

India can be Egypt's best and natural partner and New Delhi welcomes more Egyptian investments which will give a huge boost to their collaborative efforts, the Indian envoy here has said.
India's Ambassador to Egypt Sanjay Bhattacharyya's remarks came during a briefing session on the Indian economy and bilateral investment opportunities.
The session was chaired by Mohamed Zaki El-Sewedy, Chairman of Federation of Egyptian Industries and Bhattacharyya.
"We have reached a stage in our bilateral economic cooperation and we continue to be focused on Indian investments coming into Egypt, but given the growth that we form in the Egyptian economy and its rise to a greater power, I see great opportunities for Egyptian investments going out," Bhattacharyya told PTI.

He added that this would also serve the strategic interests of Egypt and allow it to take advantage of the globalised world.
"In such an endeavour, Egypt's best and natural partner on the economic side will be India. Because when we have Egyptian investments coming into India we will be building further on the strong foundation that is always and already exists and this will be a huge boost to the collaborative efforts between the two sides," he added.

The envoy also added that there are a number of new projects between India and Egypt which will be announced in the coming days.

The session was aimed at providing an updated overview of current developments in the Indian economy, investment opportunities in India and regional and global trends.
"India is USD 2.5 trillion economy, growing rapidly with high investment, trade and technology flows. With National Flagship programmes including Make in India, Digital India, Smart Cities, Skill India and StartUp India and backed by continuous economic reforms, India is poised to emerge as global economic power," Bhattacharyya said during the session.
El-Sewedy, Chairman of Federation of Egyptian Industries, said that both countries have high investment opportunities and they see a development in the ways of attracting investments like new amendments and legislations.

"India is a very attractive country and Egypt is attractive as well and we are looking on how to make India a hub for us. Egypt offers many chances that attracts Indian companies and India as well has the same potentials in attracting investors," el-Sewedy said.
"There are already a number of projects which are running between Indian and Egyptian companies and we want to expand the cooperation in the fields of agriculture, mining and training," he added.
An economic booklet 'India Surging Ahead', issued by the Economic Diplomacy Division, Ministry of External Affairs, was translated into Arabic by the Indian embassy in Cairo.