India-Egypt trade, Indian investment and the Rupee Vostro account

Background

Bilateral trade between India and Egypt was 6.5 billion United States dollars in financial year 2025-26. India is the fifth largest exporter to Egypt, the twelfth largest importer from Egypt and Egypt's sixth largest trading partner. The India-Egypt Bilateral Trade Agreement has been in operation since March 1978 and is based on the Most Favoured Nation clause. Over 700 Indian companies are registered in Egypt, of which about 70 are active, with combined investment exceeding 5.5 billion dollars, providing direct and indirect employment to about 40,000 Egyptians. Major investments include TCI Sanmar, valued at 1.6 billion dollars, Alexandria Carbon Black, Dabur India and SCIB Paints. Egyptian investment in India is about 37 million dollars. A Special Rupee Vostro Account opened by the State Bank of India with Banque Misr was operationalised in June 2026 after approval by the Central Bank of Egypt.