Egypt’s president heads to India amid investment push

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Egyptian President Abdel Fattah al-Sisi begins a visit to India on Wednesday where he will meet business leaders and be a guest of honor at India’s January 26 Republic Day.

The trip will include discussions on strengthening economic relations between the two countries and reviewing opportunities for Indian investment in Egypt, a statement from the Egyptian presidency said.

Egypt is trying to drum up foreign investment as it tries to manage a dollar shortage that has led to a sharp depreciation of the Egyptian pound.

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Last year it sought help from energy-rich Gulf allies and the International Monetary Fund after the economic fallout from the war in Ukraine exacerbated its underlying challenges.

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