26-05-2025
Jolt to Çelebi could turn a big gain for this Indian firm that once had deep Turkish ties
Jolt to Çelebi could turn a big gain for this Indian firm that once had deep Turkish ties
Turkish Prime Minister Recep Tayyip Erdogan and GMR Group chairman G.M. Rao. GMR has had strong ties with Turkey; Collage by Sadhana Saxena
Synopsis
Of the three Çelebi businesses in India, the cargo unit minted the most amount of money. Now that the Indian government has cancelled the Turkish firm's security clearance to operate in India, its long-time partner GMR could only be happy with the development.
By TARUN SHUKLA 8 Mins Read, May 26, 2025, 05:00 AM IST
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There's a photo from 2008 that few at GMR would forget: Turkish Prime Minister Recep Tayyip Erdogan and GMR Group chairman GM Rao standing on a dais in Istanbul, shaking hands as Rao nods along while Erdogan speaks. At the time, GMR — now the operator of Delhi, Hyderabad, and Goa airports at home, with global presence including in Greece, Indonesia, and the Philippines — had just struck a joint venture with a Turkish firm to develop Sabiha
