SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt welcomes international efforts for peace in Ukraine    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Indian delegation explores business opportunities in Egypt
Published in Daily News Egypt on 26 - 02 - 2009

CAIRO: "There is a word coined in the United States - if you were 'Bangalored' it means you lost your job, said Ramachandara Seshagiri, president of Hitork, an Indian gears and gear parts-maker, addressing an audience of Egyptian businessmen on Wednesday.
The confidence couched in Seshagiri's remark was on full display as his 26-member delegation sponsored by the Engineering Export Promotional Council of India arrived armed with brochures and business cards to mingle with their Egyptian counterparts in the Conrad Hotel this week.
"The world has become very small. There is no way that will change, Seshagiri told Daily News Egypt during the meeting's "matchmaking session, where delegates looked for business partners. "A buyer is able to locate a seller in no time.
With its proximity to African and European markets and millennia-old trade relationship with India, Egypt is a natural place for Indian businesses to search for such connections, he said.
The two ancient nations have enjoyed a generally sympathetic relationship over the past century, as both struggled to rid themselves of British colonialism and, later, collaborated on the Non-Aligned Movement, which sought to distance member countries from the American and Soviet poles of influence during the Cold War.
While trade is a bit more prosaic now than when mummies were wrapped in Indian muslin - the bulk of it now consists of oil and gas - it has shown recent signs of strength. Between 2003 and 2007, Indian-Egyptian trade more than quadrupled; it is now stretching into fields like information technology.
It has not always been smooth. Egypt imposed steep, though temporary, tariffs on Indian tea and restrictions on some of India's meat imports over the past decade, for instance.
Now, as the economic downturn sets into Western markets, opportunities for trade between Egypt and India are growing, Seshagiri said. "The food industry, I think is doing extremely well in Egypt, he said. "Anything to do with food and agricultural I believe can sell very well in Egypt.
"Local consumption, local demand is always very high, he added.
The Indian delegation will travel next to Ghana. During the matchmaking session, Seshagiri said he hoped business would be brisker in Egypt than in Tunisia, their previous stop. Only two Indian suppliers signed contracts there, evidence of that country's small size and trade agreements that allow it customs-free imports of many European products, he said.
"If you really want to grow two countries' trade, first you have to work on the customs tariff, he said, chuckling.
The Indian delegates came hawking goods as diverse as landing wheels, dump trucks, electrodes and mining rigs. Many of them developed and manufactured their own products, as Iqbal Maniar, the vice president of Maniar & Co., eagerly pointed out while flipping through a brightly-colored catalog of his company's garbage trucks.
"This is our own innovation, this is our own innovation, this is our own innovation, he said pointing to the models. "These things you will never find elsewhere in the world.
His company is getting popular in India and has recently started exporting to Africa, Maniar said. He is now looking for an Egyptian agent to set up a sales office here, he said.
The booth for Varun, a kitchenware company, displayed similar ambitions. The company already sells in Egypt, but sales here are still slow compared to business in Saudi Arabia, the United Arab Emirates and Ghana, said Vijay Daga, a general manager at Varun.
He said he came to Egypt looking for more buyers, especially from supermarket chains. "What do I want? he said. "I want to make their cuisine more beautiful. This is what I'm looking for.
Asked about the large number of sellers, Seshagiri was quick to say that the delegates were not only looking to export. "No, no, no. It is a business cooperation visit, he said. "We are looking at both to and from - buying from Egypt and also selling into Egypt.
But were there any specific opportunities for Egyptian firms to export engineering goods to India? "Not yet. We are going to have a discussion on that later in the evening, he said. "Trade can only flourish both ways.


Clic here to read the story from its source.