Israel launches a ground operation to retake part of a key corridor in northern Gaza

NEW DELHI: Egypt is trying to attract more Indian companies, particularly in the sectors of renewable energy, chemicals and information technology, its embassy in India said on Wednesday, as Investment and Foreign Trade Minister Hassan El-Khatib is on a visit to New Delhi to forge more partnerships.

El-Khatib arrived in India on Sunday for a four-day visit during which he met Commerce and Industry Minister Piyush Goyal.

He discussed with Goyal ways of “attracting more Indian investments to the Egyptian market in vital sectors such as new and renewable energy, chemicals, automobile manufacturing and its components, pharmaceutical products, textiles, communications and information technology,” the Egyptian Embassy said in a statement to Arab News.

“Both sides expressed their aspiration to increase the volume of trade exchange between the two countries in the next five years. It was agreed to work on raising the trade volume from $4.2 billion in 2024 to $12 billion.”

El-Khatib also attended the India-Egypt Business Roundtable held by the Confederation of Indian Industry.

“The discussion highlighted new opportunities emerging in trade and investments in Egypt, and the pivotal role of the Indian industry toward leveraging these opportunities. Emphasis was also made over the opportunities in the Suez Canal Economic Zone,” the CII said after the meeting.

The Egyptian minister said his government was prepared to provide Indian investors with “all forms of support and facilitation” in the special zone.

Established in 2015, the SCZone spans 461 sq. km and includes six ports and four industrial zones along the Suez Canal — one of the world’s most important maritime routes.

Talks on establishing a dedicated Indian industrial cluster in the special economic zone have been underway since 2023, when relations strengthened following Egyptian President Abdel Fattah El-Sisi’s visit as chief guest of India’s Republic Day celebrations and Indian Prime Minister Narendra Modi’s official trip to Cairo.

“Egypt is working to accelerate economic growth and views India as a major partner in this regard. India is one of the largest trading partners of Egypt in the world and over 50 Indian companies have invested nearly $3.15 billion in the Egyptian market,” Md. Muddassir Quamar, associate professor at the Centre for West Asian Studies, told Arab News.

The first investment agreement by an Indian company with the SCZone was signed in February. Under the $5 million deal, India’s Volkov Infra will establish a plant producing silico manganese and ferrosilicon from quartz and manganese ore in the East Ismailia Industrial Zone, known as “Technology Valley,” Quamar said.

“These are encouraging signs and the two sides are likely to further strengthen trade, investment and economic relations given India is keen to capitalize on the growing economic opportunities in the Eastern Mediterranean region.”

MILAN: The Italian Coast Guard has recovered six bodies and was searching for up to 40 migrants missing after a rubber dinghy that departed from Tunisia sank in the central Mediterranean, the UN refugee agency in Italy said Wednesday.
Another 10 people, including four women, were rescued Tuesday and brought to Italy’s southernmost island of Lampedusa.
The Red Cross said they were in good physical condition, and were receiving psychological care.
Survivors said that some 56 people were in the dinghy when it departed from the Tunisian port of Sfax on Monday evening, the UNHCR reported.
The boat started to deflate a few hours after departure. The people on board were from Cameroon, Ivory Coast, Guinea and Mali, the UNHCR said.
The UN Missing Migrant Project puts the number of the dead and missing in the perilous central Mediterranean at over 24,506 from 2014 to 2024, many of whom were lost at sea. The project says that number may be greater, as many deaths go unrecorded, with the sightings of so-called ghost ships with no one aboard and remains of people washing ashore in Libya not associated with any known shipwreck.
So far this year, 8,963 migrants have arrived in Italy, according to Interior Ministry figures updated Wednesday, a 4 percent increase over the same period last year.
Italian Premier Giorgia Meloni’s center-right government has pushed for economic agreements with northern African countries aimed at prevent departures. Speaking to lawmakers this week, Meloni credited the deals with a nearly 60 percent drop of migrant arrivals in Italy last year to 66,317 from 157,651 in 2023, adding that in 2024 1,695 people were dead or missing at sea, compared with 2,526 a year earlier.
“What do these numbers mean? They tell us that reducing the departures, and curbing the traffickers’ business is the only way to reduce the number of migrants who lose their lives trying to reach Italy and Europe,” she said on Tuesday.