India, Türkiye move to launch business association

India and Türkiye are set to launch a new business association aimed at significantly boosting bilateral trade and investment. The first organizational meeting was convened by the Embassy of India in Ankara and the Consulate General of India in Istanbul, bringing together Indian and Turkish investors who have established business interests in both countries.

This new India-Türkiye Business Association is poised to be the first business-led initiative of its kind. Its primary objective is to build a dedicated community focused on promoting trade and investment between the two nations. During the initial meeting, participants engaged in discussions regarding the drafting of the association's charter and defining its vision. They also explored strategies for creating more structured engagement between the Indian and Turkish business communities.

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such organizations can help businesses in both countries build stronger ties and networks, allowing them to navigate the commercial environment more efficiently and effectively.

The association is expected to function as a business chamber and will be formally launched in the coming months. India’s Ambassador to Türkiye, Muktesh Pardeshi, highlighted the importance of such organizations in helping businesses from both countries forge stronger ties and networks. He emphasized that these networks would enable businesses to navigate the commercial landscape more efficiently and effectively, stating that the time is right for an active, business-led body to advocate for increased trade and investment.

Bilateral trade between India and Türkiye currently hovers around $10 billion per year. This figure follows a peak of $13.8 billion reached in 2023. Both nations share a common goal of elevating their total trade volume to $20 billion. India has identified Türkiye as one of its top 25 export markets, while Türkiye has included India among the 18 countries in its targeted distant countries strategy, underscoring the strategic importance both nations place on their economic relationship.

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the time had come for an active, business-led body that could advocate for greater trade and investment between India and Türkiye.