Minister of Planning and Economic Development Ahmed Rostom met on Sunday with Indian Ambassador to Cairo Suresh K Reddy.
The two sides discussed ways to boost the strategic partnership between Egypt and India, with a focus on innovative financing and support for startups.
The meeting forms part of Egypt’s efforts to expand international partnerships and deepen economic and investment co-operation with India in support of national and regional development priorities.
Rostom praised India’s leading experience in developing digital infrastructure, fostering innovation and creating an enabling environment for startups.
He described entrepreneurship as a key driver of sustainable economic development, contributing to job creation, fostering innovation and supporting the establishment of startups, while boosting productivity and strengthening the competitiveness of the national economy.
In this regard, Rostom said the government, through its ministerial group for entrepreneurship, is working on an ambitious executive plan to develop the sector. The plan aims to encourage the emergence of new unicorn companies, launch initiatives targeting students and researchers, and provide financing to support the growth of startups.
He added that the government remains committed to economic reform to boost macroeconomic stability, create a favourable climate for domestic and foreign investment, and enable Indian companies to benefit from Egypt’s competitive advantages.
For his part, Reddy outlined India’s experience in entrepreneurship, noting that the country is home to more than 240,000 startups. He described Egypt as a regional gateway for companies seeking to expand into African and European markets.
The ambassador announced plans to organise a high-level delegation of more than 150 major Indian companies to visit Egypt and explore investment opportunities.
Reddy said Indian companies had investments worth nearly $5 billion in Egypt, operating through around 55 factories and providing more than 35,000 jobs for Egyptians.
The ambassador invited Rostom to visit India, stressing the importance of familiarising the Egyptian side with India’s Vision 2047 alongside Egypt’s Vision 2030. He said India aims to become a developed economy by 2047, marking 100 years of independence.
Reddy also invited Egypt to participate in India’s annual conference on building the startup ecosystem, organised by the National Association of Software and Service Companies (NASSCOM).
