Egyptian Minister of Planning and Economic Development Ahmed Rostom met with Indian Ambassador to Cairo Suresh K. Reddy on November 8, 2026, to discuss strengthening the strategic partnership between the two countries. The meeting aimed to expand cooperation in innovative financing and support for startups. Egypt is seeking to deepen economic and investment cooperation with India to support national and regional development agendas. This effort is part of Egypt's strategy to strengthen international partnerships.
During the meeting, Rostom praised India's experience in digital infrastructure, innovation, and creating an enabling environment for startup growth. He emphasized the importance of benefiting from India's experience in innovative financing mechanisms and solutions. Rostom highlighted entrepreneurship as a key driver of sustainable economic development, contributing to job creation, promoting innovation, and encouraging the establishment of startups. This, he said, can boost productivity and enhance the competitiveness of the national economy.
The Egyptian government is working on an ambitious executive plan to develop the entrepreneurship sector, encourage the emergence of new unicorn companies, and provide financing to support the sector's growth. The plan is being implemented through a ministerial group for entrepreneurship. Rostom added that the government is committed to pursuing economic reform to consolidate economic stability and create a favorable environment for domestic and foreign investment. This environment will enable Indian companies to capitalize on Egypt's competitive advantages.
Indian Ambassador Suresh K. Reddy highlighted his country's experience in the startup sector, with over 240,000 startups in India. He noted that the Egyptian market serves as a regional hub for companies seeking to expand into African and European markets. Reddy emphasized the importance of including financial technology companies and digital solutions providers in upcoming investment delegations to Cairo. This will strengthen opportunities for partnerships between the two countries.
Reddy announced that a high-level investment delegation comprising over 150 major Indian companies will visit Egypt to explore investment opportunities firsthand. He expressed his country's appreciation for its partnership with Egypt, with Indian companies having investments worth nearly $5 billion in the country. These investments are spread across around 55 Indian factories, providing more than 35,000 jobs for Egyptian citizens.
The Indian ambassador extended an official invitation to Rostom to visit India to familiarize the Egyptian side with India's "Vision 2047." This vision aims to make India a developed economy by 2047, when it will mark the centenary of its independence. Reddy also invited the Egyptian side to participate in India's annual conference on building the startup ecosystem, organized by the National Association of Software and Service Companies.
Both sides stressed the need to institutionalize cooperation through the launch of a "Joint Egyptian-Indian Startup Forum." This forum will serve as a permanent platform for dialogue and integration between young talent in the two countries, opening new horizons for investment and mutual growth. The partnership between Egypt and India is expected to be sustainable and expand into new areas, with the forum playing a key role in facilitating this growth.
Key points
- Egypt and India are exploring ways to strengthen their strategic partnership in innovative financing and startups.
- The partnership aims to support national and regional development agendas and create a favorable environment for domestic and foreign investment.
- A joint Egyptian-Indian startup forum is planned to institutionalize cooperation and open new horizons for investment and mutual growth.
