In the coming days, the Egyptian market will witness a fierce competition in the technology industry between the Indian elephant and the Chinese dragon after the announcement of an international Indian company that occupies a leading position in the industry to launch major investments in this field.
Informed sources familiar with the company revealed the intention of the company to invade the Egyptian market with the latest software and devices that carry advanced capabilities and to compete with the prominent international brands in the Egyptian market, especially the Chinese ones at affordable prices to the average and medium consumer, saying that they have already begun to plan to establish their operations seriously after the completion of all licenses and procedures required to establish actual presence in the Egyptian market.
The Indian company focuses on utilizing the software industry and the economical proximity with the Egyptian market to deploy technologically advanced products. These sources also added that this company will take advantage of the strong relations, the state of economic mobility and trade exchange between the Egyptian and the Indian civilizations and their similarity in many characteristics, qualities, cultures and economic challenges. They also explained that it will follow the example of major Indian investment companies in the creation of a brand that suits the the Egyptian consumer, as well as the success of major Egyptian companies in creating goods suitable for the Indian consumer. They have also pinpointed that the similarity and the proximity between the Indian and the Egyptian markets has caused an increase in trade exchange between both markets. The value of annual Indian investments in Egypt stands 3.5$ billion dollars and India ranks third among the most importing countries from Egypt (After KSA and Italy). Many Indian MNCs like Bajaj, Mahindra, SCIP, Dabur, Marico, Carbon Black, Kirloskar and Monginis have already successful and established businesses operating in Egypt and are leading in their respective industries with their reliable and high quality products.
Indian companies have demonstrated their dominance in the field of technology in the last 2 decades and have evolved their ecosystem in a way that they are now positioned to deliver some of the most advanced and high quality technological products to the world. Today, India is the second largest source of computer software in the world after the United States. About 40 percent of the software used today in mobile phones are being developed in India. India is the source of programmers and engineers that make up the largest companies in the US Silicon Valley, with more than 300,000 engineers and programmers that own 750 companies with some of the leading Software as well hardware companies having Indians being the CEO of businesses like Google, Microsoft, Adobe and Nokia.
Egypt today stands at a point where the economy will receive a positive boost from not only a mutually beneficial trade and intellectual exchange but also employment generation with the onset of operations of such technologically advanced global brands.