India- Egypt 75th Anniversary of diplomatic ties
Egypt released a postage stamp to commemorate the 75th anniversary of diplomatic relations with India. Diplomatic relations between India and Egypt began when Egypt recognized India’s independence on 18 August 1947, three days after India’s independence. The two countries became even closer in the 1950s, which resulted in a historic friendship treaty in 1955.
India-Egypt Bilateral Trade
Egypt is one of the largest investment destinations for India in the region with the current Indian investment of USD 3.15 billion. In addition, there are 50 Indian companies operating in Egypt, making a total investment of $3.15 billion and creating 38,000 jobs. They are in the clothing, agriculture, chemical, energy, automotive and retail sectors.
India-Egypt bilateral trade reached a historic record high of USD 7.26 billion in FY 2021-22, an increase of 75% over FY 2020-21. Currently under the 5th India-Egypt Joint Business Council meeting, both sides have set an annual bilateral trade target of USD 12 billion to be achieved within 5 years.
India-Egypt Defence Cooperation
- The defence cooperation between India and Egypt flourished in 1960s. Since then, the cooperation has grown. The high points of India-Egypt defence relations is that the Egyptian pilots are trained by the Indian Air Force.
- India and Egypt manufactured the Helan-300 jet fighter jointly.
- In 1998, the Indian Air Chief visited Egypt. This gave a lot of impetus to the enhance the cooperation. The idea of Joint Defence Committee was framed during this visit. Later, in 2006, the Indo-Egypt Joint Defence Committee was established. Since then, the committee has met six times. The sixth meeting was held in Delhi in 2016. During the meeting, several defence ties were finalised.
- The military delegations from both sides visit the respective countries for exchange of professional know-how and also for joint training.
- The Indian Naval Ships and Indian Air Force Aircrafts also regularly visit Egypt for joint training.
- India and Egypt also organize bilateral military exercise Exercise Desert Warrior. The exercise was conducted to enhance mutual understanding between the Indian Air Force and the Egyptian Air Force.
Category: India Nation & States Current Affairs