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Commercial Links Between India and Turkey
Both countries, India and Turkey have had bilateral economic and trade relations since 1948. As per the recent report, the trade engagement of India with Turkey is expecting a rapid expansion with a target of $10 billion by 2020.[1] Obviously, a more ambitious target is likely to be set in the next few years. Thus, providing great opportunities for investors to expand their portfolios and take benefit of these investment opportunities.
Turkey Has Started Focusing on Foreign Investors
Recently, a member of TOBB has given a statement, according to which, Turkey has started focusing on Asian countries to bring highly profitable foreign trade opportunities to the investors and ex-pats in the country. The TOBB member also added that Indian companies will make Turkey their production base and will increase the demand of several markets. Thus, India and Turkey will continue their long history of trade.
It has been also found that construction and engineering sectors would be at the top to grab these collaboration opportunities to their highest potential. It means people who are looking for investing in these sectors can highly expect tremendous growth for several coming years. It’s the right time to think and make the right investment in the right place. Commercial links between India and Turkey are expected to grow stronger in the following years.
Export Items from Turkey to India: Gold, Marble, Oil Seeds, Raw Metals.
Import Items to Turkey from India: Petroleum, Textile Yarn, Vehicle Spare parts.
If you want to establish a company in Turkey, make sure to get help from an experienced law firm in Turkey.
The Tourism Trade Between India and Turkey
If we were to talk about the tourism trade between India and Turkey, by the end of 2019, more than 189,100 Indian tourists visited Turkey. Moreover, Turkey is also a preferred location for Indian wedding ceremonies, thus, these numbers will significantly increase in the future.
Furthermore, investors who can think of profitable business ideas in Turkey’s tourism industry with a long-term investment plan will succeed. When both countries have complementary commercial transactions, this opens the doors for many other opportunities that reinforce the dynamic of Turkey’s economy and bring the potential to the world with multiple business organizations in varied sectors.
All in all, in conclusion, the commercial links between India and Turkey are expected to grow stronger in the following years.
References
- Turkey, India target $10B trade volume by 2020. Anadolu Agency. Retrieved July 12, 2021, from https://www.aa.com.tr/en/world/turkey-india-target-10b-trade-volume-by-2020/1703290
