India wants to strengthen trade ties with Egypt: Indian envoy

Cairo: India seeks to further strengthen its bilateral cooperation with Egypt in the textiles sector through trade and investment, India's ambassador here said today.

Ambassador Sanjay Bhattacharyya said textile products had played an important role in the growth of Indo-Egyptian bilateral trade.

"India and Egypt have had a long tradition of exchanges in the textiles sector. Textile products particularly yarn as well as fabric are popular in Egypt and constitute one of the dominant products in our bilateral trade basket.

"India looks forward to working with Egypt to further strengthen the bilateral cooperation in textiles sector through trade and investment, Bhattacharyya said.

His remarks came as delegation from the Cotton Textile Promotion Council, also known as Texprocil, comprising 22 Indian textile companies are set to participate in the 'Cairo Fashion and Tex Exhibition' to be held here from tomorrow.

The Indian companies will showcase their best range of products and use the three-day exhibition as a platform to meet textiles entrepreneurs to understand the recent development in the Egyptian textile sector, a statement said.

The entrepreneurs will benefit from a first-hand knowledge of the evolving market conditions and domestic textile industry enabling them to identity areas of mutual cooperation, it said.

Texprocil had participated in the exhibition in March 2017 and has increased its delegation this time to 22 Indian companies, including an information booth of the council.

The products on display will include a cross section of Indian yarn and fabric products including denim.

Being the world's second largest producer of synthetic fibre and yarn, cotton, cellulosic fibre and silk, India exported around USD 342 million worth of textile and clothing products to Egypt in 2017.

The cotton yarn was the dominant product in the export basket, valued at USD 163 million followed by man-made yarn fabrics valued at USD 121 million and cotton fabrics at USD 25 million, the statement said.

The Indian textile industry is modern, vibrant and many manufacturers have set up a state-of-the-art processing houses to roll out large volume of high quality products to meet the international market demands and expectations, it said.

Egypt is a significant and important market in North Africa for Indian exports of yarn and fabrics.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.