Egypt
(Source : Embassy of India, Cairo)

Potential products of Imports from India

Textile (5911) - Egypt’s textile industry is experiencing a revival. In January 2018, Egyptian government announced plans to develop Egypt’s biggest textile city in Sadat and is working on a policy initiative to boost value addition in textile industry. This would create more demand for raw materials and inputs particularly yarn.

India exported around US$ 323 Million worth of textiles & clothing products to Egypt during 2018-19. Cotton Yarn was the dominant product in the export basket, which is valued at US$ 223.39 Million followed by Manmade Yarn fibers valued at US$ 84.6 Million and knitted & crocheted fabrics valued at US$ 10.4 Million.

Pharmaceuticals (30006 ) - Egypt requires vaccines, oncology products, medicines to cure Hepatitis C, disposables and bio-similar. India exported US$ 113.43 million worth of pharmaceutical APIs, Herbal products, surgical and AYUSH to Egypt during 2017-18.

Automobile and auto components (8708) - Egypt is strategically located close to many developing countries with open markets for car imports. The Egyptian automotive Market Volume in 2018 reached 19,804 vehicles (15088 are passenger cars, 1586 buses and 3130 trucks) compared to 14,673 vehicles in 2017 (with increase of 35.6 %) All auto majors like GM, Toyota, BMW, and Hyundai have presence in Egypt. Our exports of automobiles during 2018-19 were USD 136.2 million and auto components were USD 77.5 million in the same period (Total 213.4 Million USD).

Following the implementation of zero tariffs for automobile imports from EU to Egypt early this year, as per provisions of Egyptian – European Partnership Agreement, there were some concerns among local auto component manufacturers on likely adverse impact on them. However, the Egyptian Government has recently come up with customs incentive scheme to protect local manufacturing while at the same time keeping the doors open for imports.

Bajaj has a partnership with Ghabbour of Egypt for CKD assembly of two and three wheelers for Egyptian markets. TVS and Mahindra also have presence in the market.

Project exports in railways, construction, renewable energy, infrastructure etc.(Railway Items: 86) (Electrical Machinery:85 - Egypt has announced various mega projects which have created opportunities for the project exports by the Indian companies. Some of the major projects are: Suez Canal Economic Zone, High Speed Trains and new Metro lines, Housing units’ project, 1.5 million feddan (acre) land reclamation project, Renewable Energy projects and new Administrative Capital.

Significant trends in trade and investment : 

Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc. / Significant stories/features on “India related trade, investment, services and logistic sector, published in foreign journals/dailies, etc.:

Trade exchange between Egypt, India hikes 11.2% in 4 months

Trade exchange between Egypt and India rose 11.2 percent on a year-on-year basis during the first four months of 2019, recording $1.4 billion, according to a report prepared by the Commercial Representative Office in New Delhi.

France
(Source : Embassy of India, Paris)

Details of significant trends/analysis –

Trade – In JULY 2019, India France bilateral trade stood at € 1.05 billion. India’s exports to France stood at € 528.62 million. Main exports to France included light diesel oil (LDO), T-shirts, castor oil, precious jewellery, diamonds, pharmaceutical products, iron ores, articles of leather, articles of apparel & women’s garments.

Meanwhile, French exports to India stood at € 522.64 million. Main exports to India included aeroplanes, vaccines, reaction initiators, hand tools, parts of turbo-jets and motor vehicles, barley, nickel.

Investment – According to the ‘Business France Annual Report 2018’, a public operator supporting French investors in India and Indian investors in France, there are over 150 Indian companies operating in France (including sub-subsidiaries), employing around 7,000 people. Seventeen investments from India were recorded in 2018, Indian projects often involved decision-making centres (59% of projects; 53% of jobs) and production/manufacturing operations (18% of projects; 34% of jobs). Investments were mainly made in the software and IT services sector (24% of projects; 30% of jobs), and the machinery and mechanical equipment sector (12% of projects; 21% of jobs).

Venezuela
(Source : Embassy of India, Caracas)

India`s Reliance to resume Venezuela oil loadings after four-month pause: According to media reports, Indian refiner Reliance Industries Ltd. is scheduled to resume loading Venezuelan crude in October after a four-month pause, a move that could help Venezuela’s state-run company drain its large oil inventories. A Reliance representative told media this week that it has been supplying Venezuela with fuels permitted under U.S. sanctions, including diesel, and thus it “is able to recommence crude sourcing” in exchange for the refined products. “These are actions compliant with U.S. sanctions as crude sourcing against supply of permitted products is allowed,” the representative said. China National Petroleum Corp and its units stopped taking Venezuelan oil in August. Others, including Reliance, have recently been buying Venezuelan crude from Russian major Rosneft, according to the media reports. Reliance needs the type of heavy sour crude that Venezuela sells because its refineries are configured to process it. U.S. sanctions on both Venezuela and Iran have made it harder for the refiners to find supplies of these crude grades. The Indian firm is sending at least two vessels, the very large crude carriers Antonis I. Angelicoussis and Maran Castor, to Venezuela’s Jose port for loading in late October.