Turkey pays heavy price for supporting Pakistan, Erdogan's daughter loses Rs 2500 crore in just one day due to....
Turkey pays heavy price for supporting Pakistan, Erdogan's daughter loses Rs 2500 crore in just one day due to....
In the midst of India-Pakistan tension, Turkey had openly supported Pakistan with drones to attack India. Apart from this, Turkish Navy had also sent its warships in support of Pakistan. However, after the military conflict that lasted for 4 days, ceasefire was declared, after which India decided to boycott Turkey completely.
Conflict with India will cost heavily to Turkey, not just as a country but also at personal level. Under this, Indian traders decided not to ask for things like marble, apples from Turkey. Apart from this, Indian tourists also cancelled their plans to go to Turkey. Celebi, a major ground handling company of Turkey, which had been providing services in India for years, has now become the center of controversy. India has cancelled the services of this company in view of national security. Turkey had invested heavily in airport operations in India. Due to a decisive decision of the Indian government, the company suffered a loss of ₹ 2,500 crores in just two days.
Sumaya Erdogan, daughter of Turkish President Erdogan, also has a stake in Celebi. In this way, his daughter has also suffered a big blow.
After this decision, the company's shares fell by about 20 percent in the Turkish stock market. The company closed at 2,224 Turkish Lira on the Istanbul Exchange, which was a decline of about 10 percent from the previous record. This made it clear how much dependence the company had on India.
The company challenged the decision of the India in the court and filed a petition in the Delhi High Court. During the hearing, government lawyer Tushar Mehta told the court that this decision is related to the national security of India. The court made it clear that the security of the country is paramount and the court cannot give any such order which compromises the security.
India's alternative strategy
After the suspension of service, Indian airports are now turning to domestic companies like Air India Sats and TATA Group. This has not only benefited Indian companies but is also considered an important step towards self-reliance.
India made it clear that it is limiting trade relations with Turkey and has given the same message to its strategic partners like France. It is worth mentioning that recently a symbolic incident of relations between French President Emmanuel Macron and Turkey also made headlines in the media.
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