Dairy Industry leaders invited for business and investment opportunity in Egypt by TPCI
THE TRADE PROMOTION COUNCIL OF INDIA (TPCI) received a high-powered delegation from Egypt comprising of the officers of Suez Canal Economic Zone and East Port Said Development to discuss prospect of bilateral business and investment opportunity of Indian Industries in Egypt.
The President of Indian Dairy Association, Dr. G.S. Rajorhia and Dairy Industry leaders were invited to participate at this conclave to explore the interests for establishing manufacturing facilities in the two economic zones of Egypt. Besides the President, Mr. S.S. Mann, Chairman, IDA (NZ) and Chairman of Mann Ventures Ltd. participated at the deliberations held on 18 March, 2019 at the Le Meridien Hotel, Delhi. The Egyptian delegation offered unique investment and partnership in joint ventures enabling the Indian industries an easy access to economies of Africa, Europe and Asia. The Government of Egypt has made approval, licensing and foreign labour regulations very friendly. There are many fiscal incentives, taxes and custom exemptions for Indian investors. The delegation informed that already 52 Indian companies are working in Egypt. Income Tax exemptions are also granted to the investors.
Dr. G.S. Rajorhia suggested that Trade Promotion Council of India should preferably have such discussion with industry specific business groups. He reviewed the over-all growth of dairy industry and expressed that Indian dairy industry may play a major role in Egypt as most of the products of the two countries have similar texture and flavour profile. Mr. Mohit Singla, Chairman, TPCI appreciated the suggestion and the Egyptian Embassy officials agreed to organise an exclusive meeting with the dairy industry as soon as possible.