India shares close ties with Turkey, dating back several centuries, with trade and defence partnerships taking the forefront lately.
India-Turkey bilateral trade grew 8.6% to cross in 2018-19.
India ranked 6th in Turkey’s overall imports during 2018-19.
Turkey's investment in India is at US$223m - Turkish data.
Indian companies have invested over US$125m in Turkey.
FDI inflows to India from April 2000-March 2021
bilateral trade during FY2020-21
NRIs/PIOs currently live in Turkey
Turkey's economic growth is expected to rebound to 3 per cent in 2020, led by a recovery in consumption and investment, accelerating to 4 perc ent in 2021.
producer of hazelnuts, cherries, figs, apricots, and pomegranates in the world; Vast production of several varieties of fruits has built a food processing industry.
Turkey offers strong and growing opportunities in IT, healthcare, fuel products, automotive, fabrics, defence and aerospace, chemicals, industrial machinery.
Turkey has made paying taxes easier by amending the value-added tax code to exempt certain capital investments from value-added tax, thus aiding businesses.
Turkey has made property registration less expensive by temporarily reducing mortar charges to transfer property, and faster by reducing the time to obtain a tax assessment.
Turkey, shared by the continents of Asia and Europe and enriched with Ottoman history and diverse scenic beauty, has built a strong tourism sector.
India's Exports and Imports to Turkey
Source: Department of Commerce
Values in US$ Million
|3||India’s Total Export||310,338.48||262,291.09||275,852.43||303,526.16||330,078.09|
|8||India’s Total Import||448,033.41||381,007.76||384,357.03||465,580.99||514,078.42|
|13||India’s Total Trade||758,371.89||643,298.84||660,209.46||769,107.15||844,156.51|
|17||India’s Trade Balance||-137,694.93||-118,716.67||-108,504.60||-162,054.83||-184,000.33|
Embassy of India
77, Cinnah Caddesi,
+90-212 -296-2131; 212-296-2132
Cumhuriyet Cad. No. 42 Flat No. 11-12, 6th Floor, Dortler Apt., Elmadag, 34367, Istanbul
Mr. Ankit Kumar
Mr. Tevfik Ugyur
Local Clerk, Istanbul
Second Secretary (Com) & HOC, Ankara
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)
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)
Chickpeas (garbanzos), dried, shelled, whether or not skinned/split (071320)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)
Reserve: 3 billion tonnes
Export: 651 million kg (US$ 207.285 million)
Here are the leading sectors of opportunities for foreign investors
Indian Oil Corp has set up fuel storage facility in Turkey.
Mahindra & Mahindra has acquired an operation in Turkey.
Voltas has entered into a manufacturing joint venture in Turkey.
TCI Cabin Interior has partnered with Indian airline operators