Egypt, India discuss boosting strategic partnership in innovative financing, startups

Minister of Planning and Economic Development Ahmed Rostom discussed on Sunday, November 8, 2026, with Indian Ambassador to Cairo Suresh K. Reddy ways to strengthen the strategic partnership and expand cooperation in innovative financing and support for startups.

The meeting came as part of Egypt’s efforts to strengthen international partnerships and deepen economic and investment cooperation with India in support of national and regional development agendas.

During the meeting, Rostom praised India’s leading experience in digital infrastructure, fostering innovation and creating an enabling environment for startup growth. He stressed the importance of benefiting from India’s experience, as well as the innovative financing mechanisms and solutions developed by the Indian side.

He said entrepreneurship is a key driver of sustainable economic development, contributing to job creation, promoting innovation and encouraging the establishment of startups, thereby boosting productivity and enhancing the competitiveness of the national economy.

In this regard, he said the government, through its ministerial group for entrepreneurship, is working on an ambitious executive plan to develop the sector, encourage the emergence of new unicorn companies, launch initiatives targeting students and researchers, and provide financing to support the sector’s growth.

Rostom added that the Egyptian government is committed to pursuing economic reform to consolidate economic stability, create a favorable environment for domestic and foreign investment and enable Indian companies to capitalize on Egypt’s competitive advantages, including its strategic geographic location and investment incentives across various sectors.

For his part, the Indian ambassador highlighted his country’s experience, noting that India is home to more than 240,000 startups. He said the Egyptian market serves as a regional hub for companies seeking to expand into African and European markets.

Reddy stressed the importance of including financial technology (FinTech) companies and digital solutions providers, such as the National Payments Corporation of India (NPCI), in upcoming investment delegations to Cairo to strengthen opportunities for partnerships between the two countries.

He announced that arrangements were underway for a high-level investment delegation comprising more than 150 major Indian companies to visit Egypt and explore investment opportunities firsthand.

The ambassador expressed his country’s appreciation for its partnership with Egypt, pointing out that Indian companies have 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.

He noted that exploratory visits to Egypt by numerous Indian businesspeople had generated new investment interest, reaffirming Egypt’s position as a destination for economic and regional stability.

Reddy also extended an official invitation to Rostom to visit India, stressing the importance of familiarizing the Egyptian side with India’s “Vision 2047” alongside Egypt’s “Vision 2030.”

He explained that India has an ambitious vision to become a developed economy by 2047, when it will mark the centenary of its independence.

The Ambassador 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 (NASSCOM).

At the conclusion of the meeting, both sides stressed the need to institutionalize cooperation through the launch of a “Joint Egyptian-Indian Startup Forum,” which would serve as a permanent platform for dialogue and integration between young talent in the two countries and open new horizons for investment and mutual growth, ensuring the partnership’s sustainability and expansion into new areas.