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Friday, January 27, 2023

Egyptian President to Increase the Turnover of Trade with India, Says S Jaishankar

He also mentioned how renowned Indian companies have begun investing in the Egyptian country

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INDIA/EGYPT: The External Affairs Minister, S. Jaishankar, during his bilateral two-day visit to Egypt, said that Egyptian President Abdel Fattah El Sisi wanted India to increase its trade turnover.

He also mentioned how renowned Indian companies have begun investing in the Egyptian country.

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Addressing the media conference, S. Jaishankar gallantly said, “Well-reputed Indian companies are coming out to destinations like Egypt, assessing the possibilities here favourably. I think this says a lot about our companies and your credibility as an investment destination. I see a world of possibilities here. “

As per information, there was a wheat agreement between the two countries, and meanwhile, Jaishankar became conscience-stricken because this was the first time in a while that India supplied wheat to Egypt.

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However, the year turned out to be miserable for India as the crop cultivation didn’t turn out to be fruitful due to chiliastic challenges. In May, Egypt agreed to import 500,000 tonnes of wheat from India, but the contract was not signed.

However, India banned wheat exports in May due to its lower domestic production but held exceptions for countries like Egypt with food security needs.

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“The external affairs minister discussed the climatic barriers and their after-effects on exportation. But there is a lesson that for Egypt, sourcing from India is a de-risking of food supply, which was otherwise very, very dependent on very narrow geographies. I spoke about climate change as a seriously disruptive factor. In the Indian subcontinent, we are seeing floods, heatwaves, and colds on a scale which we haven’t experienced before… Sustainable solutions are not going to come only out of conferences. “

“Globalisation carries huge opportunities but also has inherent risks which must be addressed by like-minded countries, comfortable countries, getting together and doing more with each other,” said Jaishankar.

Also Read: India Chooses Not to Reveal about the Upcoming U.N. Vote on Ukraine

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