India’s leader N. Modi expected in Cairo Saturday for an official visit

India’s leader Narendra Modi will visit Egypt Saturday – his first- and looks forward to advancing partnership between the two countries.
Modi’s visit follows that of Egyptian leader Abdelfattah Al-Sisi to the Asian giant last January, at the invitation of the Indian leader himself. “We had the pleasure of receiving President al-Sisi as the chief guest at our Republic Day celebrations this year. These two visits in the span of a few months is a reflection of our rapidly evolving partnership with Egypt, which was elevated to a ‘strategic partnership’ during El-Sisi’s visit,” PM Modi also said.
Reuters recently reported that Egypt and India are expected to announce a trade agreement during the visit whereby India will barter for Egyptian goods like fertilizer and gas as part of a wider deal that could see New Delhi extending a credit line worth several billion dollars.
An Indian official who requested anonymity told the local news Agency that the agreement would allow Egypt to make purchases in rupees to sidestep its persistent foreign currency shortage and settle the debt through the sale of Egyptian products. India is keen to increase investment in the Arab country. Per India’s Ambassador to Cairo Ajit Gupte in January, bilateral trade expanded by 75 percent in 2021/22 to reach its highest-ever level of $7.26 billion, adding that trade between the two countries continues to grow in 2022/23.
Gupte indicated that there are more than 50 Indian companies operating in Egypt and most of them are planning to expand their investments by a cumulative $800 million. During a January meeting in New Delhi, both leaders announced they would increase bilateral trade to $12 billion in the next five years.