Egypt's readiness to give land to Indian industries in the Suez Canal area

New Delhi: India receives a strategically important proposal from Egypt during President Abdel Fattah el-Sisi’s visit to India. Egypt has shown readiness to provide an independent zone to Indian companies in the Suez Canal Economic Zone (SCEZ), which carries about 12% of the world’s total commercial traffic. Besides, the joint statement of Prime Minister Narendra Modi and President El-Sisi mentions that Egypt has suggested India prepare a master plan for this. Along with this, India and Egypt, the two founding countries, have once again declared their commitment to the movement of NAM (Non-Aligned Movement), i.e. isolationist countries.

Moreover, about 12% of world trade transports daily through the Suez Canal, which connects the Mediterranean Sea with the Red Sea region. Hence, the Suez Canal and the area have been very important commercially and strategically. Keeping this in mind, China has systematically taken steps to increase its investment and influence in the countries surrounding this important region. In such a situation, Egypt, in its economic crisis, has strategically decided to strengthen cooperation with India to protect its interests. Thus, Egypt has shown readiness to provide a special area or land to India in the SCEZ during the visit of President El-Sisi.

Besides, Indian companies with the potential to invest in SCEZ can get a huge opportunity herein. Furthermore, Egypt has assured providing all the necessary assistance. This proposal from Egypt would be a good opportunity for India, and India’s trade can benefit greatly. Hence, India has been looking at this proposal from Egypt very seriously. If this project goes ahead, the cooperation between India and Egypt will reach new heights. There have been indications that this deep cooperation with Egypt would greatly expand India’s influence on India’s interests in the West Asian region.

Meanwhile, during the Cold War between the United States and Soviet Russia, India and Egypt had established a Non-Aligned Movement-NAM, adopting the policy of neutrality without taking sides in this Cold War. Once again, the commitment of India and Egypt to the NAM movement was expressed in President El-Sisi’s visit to India. Respect for international law and all countries’ sovereignty and territorial integrity is the basic principle of NAM. Prime Minister Modi and President El-Sisi reviewed this in a joint statement. In the background of the conflict between Russia and Ukraine, this issue raised in the statement between the two countries becomes noteworthy. Along with this, India and Egypt’s decision to assist each other regarding food security draws the attention of analysts.

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