Egyptian Industry Minister Khaled Hashem said the country plans to establish an Egyptian-Indian industrial integration platform to connect businesses from the two nations and explore opportunities for joint manufacturing, component sourcing, supplier development and production aimed at regional exports.

He said Egypt could serve as a regional manufacturing base for Indian products destined for Middle Eastern and African markets, especially in the mid-income segment, where Indian manufacturers have established expertise in delivering quality products at competitive prices.

Hashem made the statement during talks with Indian Commerce and Industry Minister Piyush Goyal on the sidelines of the BRICS Industry Ministers’ Meeting held in Jaipur, India.

Egyptian Ambassador to India Kamel Galal and Assistant Industry Minister for International Cooperation Ahmed Maghawry also participated in the meeting.

The discussions focused on strengthening industrial and investment ties between Egypt and India, with an emphasis on developing productive partnerships that leverage the manufacturing capabilities and technological expertise of both countries.

Hashem said that the existing level of industrial collaboration between Egypt and India falls short of the considerable potential for cooperation in both countries. He highlighted common development priorities, including strengthening small and medium-sized businesses, advancing rural development, simplifying business procedures, expanding industry’s role in economic growth and job creation, increasing domestic production and building more diversified supply chains.

He said Egypt is looking to draw on India’s experience in improving its regulatory framework, making investment and manufacturing processes more efficient, and easing administrative requirements for small and medium-sized enterprises.

Hashem also stressed Egypt’s aim to attract more Indian investment into priority industrial sectors and strengthen ties with Indian SMEs whose technologies and products can serve growing demand in Egypt and other African markets.

The minister identified several sectors with strong potential for closer industrial collaboration, including automobiles and components, pharmaceuticals and medical equipment, renewable energy, fertilizers, phosphate and mineral processing, machinery, engineering, financial technology, and industries that support small and medium-sized enterprises.

The two countries agreed to conduct a joint assessment, involving relevant Egyptian agencies and Invest India, to determine key sectors for deeper industrial and investment integration. The study will evaluate market demand, supply and value chains, opportunities for joint production, investment incentives, as well as tariff and non-tariff trade barriers.

The ministers also explored ways to strengthen collaboration on digital payment systems, including connecting the payment networks of Egypt and India and considering the use of their respective local currencies for trade settlements. Such measures could help lower transaction costs and support smoother trade and investment flows between the two countries.

The two sides also agreed to pursue arrangements for the seventh meeting of the Egyptian-Indian Joint Trade Committee. They will consider scheduling the session to coincide with the planned visit of India’s Commerce and Industry Minister to Egypt, along with a delegation of leading Indian companies and industrial groups.

Goyal said the complementary strengths and shared characteristics of the Egyptian and Indian economies could support the development of a long-term strategic economic partnership.

He emphasized the need to turn the discussions into tangible projects, with participation from the private sector and financial institutions.

Goyal also outlined India’s experience with its insolvency and bankruptcy framework, which has supported the restructuring of distressed industrial assets, enhanced banks’ management of non-performing loans and contributed to greater efficiency in the financial sector. He said India is prepared to provide Egypt with technical expertise in this area.