India (Commonwealth Union)_ The relationship between India and Egypt is deeply rooted in history, with various key events shaping their interactions in the geopolitical landscape of West Asia. Throughout the years, Egypt’s strategic significance in the region, including its control over the Suez Canal, its involvement in the ArabIsrael war, and its recognition of Israel, has played a pivotal role in its relations with India.
India’s burgeoning economic power has led to renewed focus on strengthening the bilateral relationship with Egypt. This was evident during Prime Minister Narendra Modi’s visit to Cairo, which further solidified the ties initiated by Egyptian leader Abdel Fattah El-Sisi’s visit to India as the chief guest at the Republic Day parade.
Significant milestone
The visit marked a significant milestone as the two countries agreed to elevate their bilateral relationship to a ‘strategic partnership’. This new partnership will rest on four pillars: politics, defence and security, economic engagement, academic and scientific exchanges, and cultural and people-to-people contacts.
One key aspect of their growing relationship is the remarkable growth in bilateral trade. In the fiscal year 2021-2022, the trade volume between India and Egypt reached an impressive $7.26 billion, representing a substantial 75 percent increase compared to the previous fiscal year.
Both nations have witnessed significant growth in their exports to each other, with India’s exports to Egypt amounting to $3.74 billion, marking a remarkable 65 percent increase, and Egypt’s exports to India surging to $3.52 billion, showing an impressive 86 percent increase.
Balanced trade ties
India holds a prominent position as Egypt’s sixth largest export destination and ranks as the sixth most significant source of imports for India during the same fiscal year, highlighting the balanced nature of their trade relationship.
Moreover, India’s assistance to Egypt during times of crisis has strengthened the bond between the two countries. For instance, India’s shipment of wheat to Egypt during a time of acute flour shortage due to disruptions in supplies from Russia and Ukraine showcased their solidarity and cooperation.
In light of the evolving geopolitical landscape and India’s emergence as a voice of the “Global South” and a rising economic power, the strategic partnership between India and Egypt assumes great significance. This partnership is set to foster deeper political, economic, academic, and cultural cooperation, paving the way for a stronger and more dynamic relationship between the two nations. (Blitzindia)
