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INDIA BUSINESS FORUM

 

India Business Forum (IBF) in Egypt was launched in 2012 by the Embassy of India, Cairo with the Confederation of Indian Industry (CII), one of India’s premier business organizations. The CII IBF is a platform for Indian companies in Egypt to share information and raise issues of concern to authorities in Egypt and India. IBF also aims to promote and support the activities of its members in Egypt and play a catalyst role in enhancing trade and investment between the two countries. The Ambassador of India to Egypt is the Patron of the IBF.

2. The recent meeting of India Business Forum was held on October 8, 2024, at the Embassy of India in Cairo, organized in collaboration with the Confederation of Indian Industry (CII). The event featured prominent attendees, including Cd’A Ms. Sushma C. and Dr. Ashraf Elzayat, Head of the Inspection Sector at the Egyptian Tax Authority, along with various senior advisors and representatives from numerous Indian companies operating in Egypt, such as Larsen & Toubro, Sun Pharma, and TCI Sanmar. Ms. Sushma highlighted the significance of India-Egypt relations and noted that Indian investments in Egypt have reached US$4 billion across several vital sectors, including textiles, pharmaceuticals, information technology, and chemicals. Meanwhile, Dr. Elzayat discussed the Egyptian government's tax incentive package aimed at attracting foreign investment, particularly from India, outlining initiatives like streamlined investment permits, tax reductions, and infrastructure support. The forum also facilitated discussions between Indian businesses and the Egyptian Tax Authority to clarify Egypt's new tax procedures and solicit suggestions for improving investment processes and addressing potential challenges. The meeting concluded with a renewed commitment to boost Indian investment in Egypt and further strengthen the cooperative ties between the two nations, reflecting their longstanding and cordial relationship based on mutual respect and shared interests.