INSUBCONTINENT EXCLUSIVE:
Indian Prime Minister Narendra Modi visited Cairo for a two-day trip to meet with Egyptian President Abdel Fattah el-Sisi.Their discussions
focused on enhancing defense and economic cooperation between the two countries.This visit is part of an effort to strengthen the
relationship beyond historical and diplomatic ties and move towards a strategic partnership.Defense collaboration is a key area of interest
for both India and Egypt.India sees an opportunity to offer its indigenous HAL Tejas fighter aircraft to Egypt, which plans to acquire a
significant number of light combat aircraft.India and Egypt strengthen ties for defense and economic cooperation
(HAL) has proposed establishing a production line in Egypt, facilitating technology transfer and potential exports to other
regions.Additionally, India has presented an advanced light helicopter and its combat variant for consideration.Economic cooperation was
also discussed during the visit
Egypt seeks a barter agreement with India to conduct trade without relying on the United States dollar.This could involve payments in
line of credit to Egypt as part of a broader agreement.Bilateral trade between India and Egypt reached a record high of US$7.26 billion in
the 2021-2022 fiscal year, with a goal of reaching US$12 billion within the next five years.Egypt is an important supplier of energy
commodities to India, including crude oil and liquefied natural gas.Egypt sees India, particularly the Asian market, as a promising
destination for its natural gas exports.India views Egypt as a crucial partner in its Global South initiative, which aims to balance power
well as its history as a leader in the Non-Aligned Movement, make it an important ally for India.Strengthening ties with Egypt also serves
peace and prosperity in the region through strategic cooperation between the two nations.
