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India-Egypt Relations UPSC NOTE

 


Historical and Civilizational Link:

  • India-Egypt ties have a long-standing historical and civilizational connection.

  • Evidence suggests trade and cultural exchanges dating back to ancient times.

Trade Relations:

  • Bilateral trade between India and Egypt stood at $6,061 million in 2022-23, with a decline of 17% from the previous year.

  • Petroleum-related products accounted for a significant portion of the trade.

  • India is Egypt's 6th largest trading partner, while Egypt ranks 38th for India.

  • Indian investments in Egypt amount to $3.15 billion, whereas Egypt's investments in India are only $37 million.

Opportunities for India:

  • Egypt's large population (105 million) and economy ($378 billion) offer significant opportunities for trade and investment.

  • India has the potential to supply products such as refined petroleum, wheat, cars, corn, and pharmaceuticals, which are among Egypt's major imports.


  • Egypt's infrastructure development agenda, including mega projects like New Cairo, a nuclear power plant, and a high-speed rail network, presents opportunities for Indian involvement.

Challenges

  • The Egyptian economy is facing a serious crisis with a static economy, pandemic, global slowdown, and conflicts affecting financial stability.

  • Inflation is high, the currency has devalued significantly, and foreign exchange scarcity has led to deferred payments and cuts in non-essential spending.

  • Egypt's foreign debt is substantial, and foreign assets are in deficit, posing economic challenges.

Technology Transfer

  • Technology transfer refers to the process of sharing and disseminating knowledge, skills, technologies, and innovations from one entity or organization to another. 

  • It involves the transfer of scientific and technical knowledge, expertise, and intellectual property rights to enable the recipient to utilize and implement the technology effectively. 

  • Technology transfer can be considered a capital investment. 

  • Capital investments are assets that are used to generate future income or profits


  • Technology transfer can be seen as an investment in the future because it can help businesses to improve their products or services, which can lead to increased sales and profits.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: India-Egypt Relations UPSC NOTE
India-Egypt Relations UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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