Turkey supported Pakistan during Operation Sindoor by giving weapons… still India is not ending all trade ties with Erdogan's country due to…
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Turkey supported Pakistan during Operation Sindoor by giving weapons… still India is not ending all trade ties with Erdogan's country due to…
Turkey supported Pakistan during Operation Sindoor by giving weapons… still India is not ending all trade ties with Erdogan's country due to…
The government approaches a balanced policy towards Turkey rather than a complete ban due to several reasons and for the benefit of India.
After Turkey's support to Pakistan, boycott business with the country was trending on social media for many days. Also there were demands for banning imports from Turkey that had grown in India. Even the government has taken strict action against Turkish companies and some of the companies and institutes had cancelled the deals with the country.
Apple producers from Himachal Pradesh and marble traders from Rajasthan had also taken stand against the import from the country. But India has not broken all business ties with Turkey.
The answer is in the economic considerations of various businesses. While the government has acted against Turkish companies on national security grounds, it is still cautious on the trade. The primary reason behind this is that India has a trade surplus of $2.73 billion with Turkey. It means India's exports to Turkey are more than imports. A ban will not only impact Turkey but also affect Indian exporters in sectors like engineering, electronics, and chemicals.
According to a report by The Indian Express, a Commerce Ministry official stated, 'We have received several requests to stop imports from Turkey. However, we must also consider the interests of our exporters. A trade ban can give a strong geopolitical message, but the question is, how far are we willing to take it?'
In the fiscal year 2024-25, India exported goods of $5.72 billion to Turkey, with engineering products alone of $3 billion. 35-40% of these exports came from the MSME sector shows the involvement of small and medium enterprises.
Turkey imported goods of $2.99 billion from India like $270.83 million of gold and around $107 million of fruits and nuts. The import of fruits and nuts like apples, increased by around 10% compared to the previous year.
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