Egypt is targeting luring $1 billion in Indian investments in 2024, Head of the Egyptian Commercial Service (ECS) Yahia Al-Watheq Bellah told Al Arabiya Business.

He added that Egypt is seeking to increase Indian investments in the local market by at least 30% in 2024.

It is worth noting that the Indian investments in Egypt have reached $3.2 billion so far, distributed over 52 projects in the sectors of food industries, chemicals, and tourism, the Ministry of Trade and Industry stated last October.

Moreover, Al-Watheq Bellah said that the North African country aims to foster trade exchange with India by 15% to 20% to around $9 billion this year.

In 2023, Trade exchange between Egypt and India was valued at around $7.5 billion, according to Al-Watheq Bellah.

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