&w=3840&q=100)
CAIT calls for boycott of Turkiye, Azerbaijan over 'support' to Pakistan
Traders' lobby CAIT on Friday decided to boycott all trade and commercial engagement with Turkiye and Azerbaijan, citing their recent "support" for Pakistan in the wake of Operation Sindoor.
According to CAIT, the decision includes a nationwide boycott of Turkish and Azerbaijani goods, with traders across India halting imports from these countries.
The association also stated that Indian exporters, importers, and business delegations will be discouraged from any engagement with companies or institutions based in Turkiye and Azerbaijan.
The traders' lobby shared that a memorandum will be submitted to the ministry of commerce and industry and the ministry of external affairs, urging policy-level review of all commercial ties with these nations.
The Confederation of All India Traders (CAIT) has also declared that the business community will boycott Indian films shot in Turkey and Azerbaijan. It also warned corporate houses against filming any product promotions in these two countries.
The decisions were taken at a National Conference of Trade Leaders convened by CAIT here, where representatives from around 24 states participated.
"The resolution comes in response to the recent stand taken by Turkey and Azerbaijan in open support of Pakistan, at a time when India is facing a sensitive and critical national security situation.
"The collective Indian trading community views this as a betrayal, particularly considering the humanitarian and diplomatic support extended to both countries in the past by India and especially by Prime Minister Narendra Modi, during their respective crises," CAIT said in a statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
18 minutes ago
- Hindustan Times
Israel PM Netanyahu briefs Modi on regional affairs after strikes on Iran: Report
Israeli PM Benjamin Netanyahu speaks to PM Narendra Modi, among world leaders; briefs on regional situation, reports PTI.
Deccan Herald
19 minutes ago
- Deccan Herald
UP university's VC says history of 'foreign invaders' won't be taught at his institution
Speaking to reporters in Gonda during a one-day visit, the VC said, "Those who destroyed Indian culture will not be glorified in the university's textbooks and curriculum
Economic Times
20 minutes ago
- Economic Times
India moves to conserve its rare earths, seeks halt to Japan exports, sources say
India has requested IREL to halt rare earth exports to Japan, aiming to secure domestic supplies and lessen reliance on China. This decision follows China's export restrictions, which have impacted global industries. IREL intends to expand domestic mining and processing capabilities, seeking partnerships for rare earth magnet production, while India plans incentives for local processing and magnet facilities. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India has asked state-run miner IREL to suspend a 13-year-old agreement on rare earth exports to Japan and to safeguard supplies for domestic needs, two sources familiar with the matter told Reuters, aiming to reduce India's dependence on China IREL also wants to develop India's capacity for rare earth processing, which is dominated globally by China and has become a weapon in escalating trade wars. China has curbed its rare earth materials exports since April, pressuring automakers and high-tech manufacturers a recent meeting with auto and other industry executives, Indian Commerce Minister Piyush Goyal asked IREL to stop its exports of rare earths , mainly neodymium, a key material used in magnets for electric vehicle motors, one of the sources Commerce Ministry, IREL and the Department of Atomic Energy, which oversees IREL, did not immediately respond to requests for sources declined to be identified because of the sensitivity of the a 2012 government agreement, IREL supplies rare earths to Toyotsu Rare Earths India, a unit of Japanese trading house Toyota Tsusho, which processes them for export to Japan where they are used to make 2024, Toyotsu shipped more than 1,000 metric tons of rare earth materials to Japan, commercially available customs data showed. That is one-third of the 2,900 tons mined by IREL, although Japan relies mainly on China for its rare earths Tsusho and Toyotsu did not immediately respond to requests for has been exporting rare earths due to a lack of domestic processing capacity, but following the recent disruptions to supplies of Chinese material it wants to keep its rare earths at home and expand domestic mining and processing, a second source said, adding that IREL is awaiting statutory clearances at four India may not immediately be able to stop supplies to Japan because they fall under a bilateral government agreement, the person wants this to be "amicably decided and negotiated because Japan is a friendly nation", the person Trade Ministry said in a statement to Reuters: "We would like to refrain from answering questions about bilateral exchanges in general, not just about this matter."China's recent export controls on rare earth materials have rocked the global auto industry, which has warned of supply chain disruptions and production also weaponised its supplies in 2010, when it briefly stopped shipments to Japan. That prompted the Japanese to turn to India for rare has the world's fifth-largest rare earth reserves, at 6.9 million metric tons, but there is no domestic magnet production. India relies on imported magnets, mainly from the fiscal year to March 2025, India imported 53,748 metric tons of rare earth magnets, government data showed. These are used in automobiles, wind turbines, medical devices and other manufactured earth mining is restricted to IREL, which supplies India's Atomic Energy Department with materials for nuclear power projects and defence-related applications. India lacks wide-scale technology and infrastructure to mine rare earths, and the development of any commercially viable domestic supply chain is years away, analysts has a rare earths extraction plant in the eastern Indian state of Odisha and a refining unit in Kerala, in southern India. The miner, founded in 1950, plans to produce 450 metric tons of extracted neodymium in the fiscal year to March 2026 with a plan to double that by 2030, the second person is also looking for a corporate partner for the production of rare earth magnets for the auto and pharmaceutical industries, the person is firming up plans for incentives to companies to set up rare earth processing and magnet production facilities to meet local demand, people familiar with the matter told Reuters earlier this month.
