Egypt and India are moving to establish a joint forum for Egyptian and Indian startups, following talks between Egypt’s Planning and Economic Development Minister Ahmed Rostom and India’s ambassador to Cairo, Suresh K. Reddy.
The proposed forum is intended to create a lasting platform for entrepreneurs and young professionals from both countries, with a focus on exchanging expertise and expanding cooperation in innovation, digital solutions and alternative finance.
Rostom highlighted India’s experience in digital infrastructure, startup support and innovative financing. He said Egypt’s entrepreneurship ministerial group is preparing an action plan for the sector, including initiatives for students and researchers and measures to support the creation of new high-growth companies.
Reddy said India has more than 240,000 startups and described Egypt as a regional base for companies seeking to expand into African and European markets. He also called for fintech companies and digital solution providers, including the National Payments Corporation of India (NPCI), to take part in future investment delegations.
According to the announcement, a delegation representing more than 150 major Indian companies is being arranged to visit Cairo and explore investment opportunities. Indian companies have nearly $5B invested in Egypt across around 55 factories, supporting more than 35,000 jobs, the ambassador said.
Source: Shorouk News
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