India's foreign ministry is consulting with departments on their appetite for fertiliser and gas from Cairo as part payment for the credit line, an Indian official said.
India, the world's second-largest wheat producer, banned wheat exports in May 2022 to help control rising domestic prices, rescinding a plan to export 3 million tons of wheat to Egypt in the year 2022/23.
The other sources from India and Egypt did not wish to be identified as they are not authorised to speak to the press.
India's external affairs ministry, finance ministry, trade minister, and Egypt's foreign ministry and trade ministry did not immediately respond to requests for comment.
India exported $4.11 billion of goods to Egypt in the last fiscal year, while importing $1.95 billion.
Persons:
Narendra Modi's, Ali Moselhy, Moselhy, Rajendra Jadhav, Conor Humphries
Organizations:
Reuters, Indian, Thomson
Locations:
CAIRO, DELHI, India, Egypt, Delhi, Cairo, New Delhi, Russia