Indian business delegation visits Türkiye to boost bilateral trade

A business delegation representing the Federation of Indian Chambers of Commerce & Industry (FICCI) visited Türkiye, primarily focusing on fortifying trade relations and engaging with influential figures in the Turkish business landscape.

From December 18 to 20, the strategic visit occurred in Istanbul and Izmir, Türkiye's preeminent business hubs.

FICCI's visit reciprocated the mission conducted by Türkiye's Foreign Economic Relations Board (DEIK) delegation, which traversed various cities in India in November 2022, laying the foundation for enhanced economic collaboration.

The pinnacle of the three-day programme was the India-Türkiye Business Council meeting on Monday, organised by DEIK at its Istanbul headquarters.

The diverse FICCI delegation, comprising representatives from vital sectors such as healthcare, information and communication technology (ICT), food, electric vehicles, defence, drones, and engineering, actively participated in various engagements, discovering collaboration possibilities.

Hulya Gedik, the Chairperson of the Indian Business Council, welcomed the delegation and underscored the critical importance of fostering more robust business exchanges between Türkiye and India.

Navil Prasad, the leader of the Indian delegation, asserted that bilateral trade between the two nations holds the potential to more than double the current level, emphasising the pressing need for increased investment in both countries.

Prasad conveyed India's openness for business with Türkiye, symbolising the visit to Istanbul as a clear signal of India's receptivity to Turkish enterprises.

Call to the private sector

Consul General of India to Istanbul, Mijito Vinito, positioned India as a growth opportunity and a promising partner, calling the private sector on both sides to elevate the frequency of focused business exchanges.

Cagatay Ozden, the Head of the Department of Asia Pacific Countries at Türkiye's Trade Ministry, provided an overview of the current trade and investment landscape between India and Türkiye, offering insightful suggestions for future collaborative endeavours.

The FICCI delegation's endeavours extended to impactful meetings with the leadership of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and the Independent Industrialists and Businessmen Association (MUSIAD). Furthermore, they visited Yildiz Technical University (YTU) Yildiz Technopark.

After the sessions in Istanbul, the delegation proceeded to Izmir, where they actively engaged in additional business meetings with the Izmir Chamber of Commerce and the Aegean Exporters Association.

Türkiye's Trade Ministry reported that the trade volume between Türkiye and India soared to $12.3 billion in 2022.