Turkey

India shares close ties with Turkey, dating back several centuries, with trade and defence partnerships taking the forefront lately.

India-Turkey bilateral trade grew 120% to cross in 2021-22.

Turkey's investment in India is at US$223m - Turkish data.

Indian companies have invested over US$125m in Turkey.

US$ 216.11 million
FDI inflows to India from April 2000 – September 2022

US$ 10.7bn

bilateral trade during FY2021-22

1,708
NRIs/PIOs currently live in Turkey

Economy

Turkey's economic growth is expected to rebound to 3 per cent in 2020, led by a recovery in consumption and investment, accelerating to 4 perc ent in 2021.

Largest

producer of hazelnuts, cherries, figs, apricots, and pomegranates in the world; Vast production of several varieties of fruits has built a food processing industry.

Opportunities

Turkey offers strong and growing opportunities in IT, healthcare, fuel products, automotive, fabrics, defence and aerospace, chemicals, industrial machinery.

Taxation

Turkey has made paying taxes easier by amending the value-added tax code to exempt certain capital investments from value-added tax, thus aiding businesses.

Regulation

Turkey has made property registration less expensive by temporarily reducing mortar charges to transfer property, and faster by reducing the time to obtain a tax assessment.

Tourism

Turkey, shared by the continents of Asia and Europe and enriched with Ottoman history and diverse scenic beauty, has built a strong tourism sector.

India-Turkey Bilateral Relations

A summary of the bilateral engagements between India and Turkey.

India's Exports and Imports to Turkey

Source: Department of Commerce

Country / Region: TURKEY

S.No.	\Year	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
1.	EXPORT	5,452.45	4,969.47	3,952.89	8,716.13	9,609.67
2.	%Growth		-8.86	-20.46	120.50	10.25
3.	India’s Total Export	330,078.09	313,361.04	291,808.48	422,004.40	450,958.43
4.	%Growth		-5.06	-6.88	44.62	6.86
5.	%Share	1.65	1.59	1.35	2.07	2.13
6.	IMPORT	2,388.26	2,116.56	1,467.33	1,996.75	4,208.84
7.	%Growth		-11.38	-30.67	36.08	110.78
8.	India’s Total Import	514,078.42	474,709.28	394,435.88	613,052.05	714,042.45
9.	%Growth		-7.66	-16.91	55.43	16.47
10.	%Share	0.46	0.45	0.37	0.33	0.59
11.	TOTAL TRADE	7,840.71	7,086.03	5,420.22	10,712.88	13,818.51
12.	%Growth		-9.63	-23.51	97.65	28.99
13.	India’s Total Trade	844,156.51	788,070.32	686,244.36	1,035,056.45	1,165,000.88
14.	%Growth		-6.64	-12.92	50.83	12.55
15.	%Share	0.93	0.90	0.79	1.04	1.19
16.	TRADE BALANCE	3,064.19	2,852.92	2,485.56	6,719.39	5,400.84
17.	India’s Trade Balance	-184,000.33	-161,348.24	-102,627.40	-191,047.65	-263,084.03

Note:Since 2006-07, Petroleum figures are being computed from Import Daily trade Returns (DTRs) to genetate country-wise/port-wise tables. Up to 2005-06 consolidated petroleum import figures were being received from the Petroleum Ministry.

Presidency of the Republic of Turkey Investment Office

http://www.invest.gov.tr/en-US/ContactUs/Pages/ContactUs.aspx

+90-312-413-8900

Visit Website

Kavaklıdere Mahallesi Akay Caddesi No:5 Çankaya/ANKARA 06640

Confederation of Asia-Pacific Chambers of Commerce and Industry

+91-11-2348-7466

Visit Website

7F-2, #760, section 4, Bade road, Songshan District, Taipei City, Taiwan 105

Ahiler Development Agency

+90-384-214-3666

Visit Website

Cevher Dudayev Mah. Vatan Cad. No: 42/1 Head Office / NEVŞEHİR

Embassy of India, Ankara

+90-312-438-2195/98

Visit Website

Embassy of India
77, Cinnah Caddesi,
Cankaya 06680,

Consulate General of India, Istanbul

+90-212 -296-2131; 212-296-2132

Visit Website

Cumhuriyet Cad. No. 42 Flat No. 11-12, 6th Floor, Dortler Apt., Elmadag, 34367, Istanbul

Commercial Representative

+90-212-296-902; 530-825-8037

Mr.Purnojyoti Mukherjee,
Consul/HOC, Istanbul

Commercial Representative

+90-212-296-2131; 530-412-3625

Mr. Ankit Kumar
ASO, Istanbul

Commercial Representative

Mr. Tevfik Ugyur
Local Clerk, Istanbul

Commercial Representative

+90-530-314-2205; 530-314-2205

Visit Website

Alok Verna
Second Secretary (Com) & HOC, Ankara

Opportunities

Agricultural exports

Whiskies (220830)

agriexchange.apeda.gov.in

Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)
Cocoa beans, whole/broken, raw/roasted (180100)
Cocoa butter, fat & oil (180400)
Cocoa paste, not defatted (180310)
Cocoa powder, not cont. added sugar/oth. sweetening matter (180500)

agriexchange.apeda.gov.in

BANANAS FRSH OR DRIED (080390)
Dates, fresh/dried (080410)
Live plants, n.e.s., incl. their roots; mushroom spawn (060290)
Vegetable seeds, of a kind used for sowing (120991)

agriexchange.apeda.gov.in

Chickpeas (garbanzos), dried, shelled, whether or not skinned/split (071320)

agriexchange.apeda.gov.in

Lentils, dried, shelled, whether or not skinned/split (071340)

agriexchange.apeda.gov.in

Fish fillets; frozen, coalfish (Pollachius virens) (030473)
Fish; fresh or chilled, Atlantic salmon (Salmo salar) and Danube salmon (Hucho hucho), excluding fillets, livers, roes, and other fish meat of heading 0304 (030214)
Fish; frozen, mackerel (Scomber scombrus, Scomber australasicus, Scomber Japonicus), excluding fillets, llvers, roes, and other fish meat of heading 0304 (030354)
Fish; frozen, skipjack or stripe-bellied bonito, excluding fillets, livers, roes, and other fish meat of heading 0304 (030343)
Molluscs; cuttle fish and squid, whether in shell or not, frozen, dried salted, in brine, or smoked, cooked or not before or during the smoking process (030749)

fishexchange.mpeda.gov.in

Walnuts, in shell (080231)

agriexchange.apeda.gov.in

Rice in the husk (paddy/rough) (100610)

agriexchange.apeda.gov.in