Turkish Indian-Chambers of Commerce and Industry wants to develop bilateral trade between Turkey and India and facilitate more networking and collaboration opportunities through exports, joint ventures and alliances
IMO News Service
New Delhi: A new trade association Turkish Indian-Chambers of Commerce and Industry (TICCI) was launched at the Lalit Hotel in New Delhi on Tuesday, March 10, 2015.
The Turkish Indian-Chambers of Commerce and Industry (TICCI) is an affiliate of the Turkish business confederation TUSKON and currently has offices in various cities of India, including Bangalore, Chennai, New Delhi, Hyderabad, Kolkata and Mumbai.
The development of bilateral trade and facilitating contacts for exports, joint ventures and alliances are among the main objectives of the TICCI.
TICCI president Ersin Karaoglan said that the group will also promote the “Make In India” campaign in order to attract Turkish companies to invest in Indian manufacturing.
He said that automotive parts business, infrastructure, medical tourism and construction are some of the areas that have great potential for joint ventures between Turkish and Indian companies.
The launch event was held in the evening at the Lalit Hotel in New Delhi. It was attended by many prominent personalities from various walks of life. The dignitaries included Federation of Indian Chambers of Commerce and Industry (FICCI) president Jyotsna Suri, PHD Chamber of Commerce and Industry president Alok B. Shriram, Associated Chambers of Commerce and Industry of India (Assocham) secretary general D.S. Rawat, former Indian ambassador to Kazakhstan and National Foundation for Communal Harmony secretary Ashok Sajjanhar, Arya Samaj president Swami Agnivesh, UN Information Center director Kiran Mehra, Bharatiya Janata Party (BJP) leader Vijay Jolly, and TICCI vice president Mehmet Ali Seker.
An amazing performance by whirling dervish dancers from Turkey regaled more than 150 guests attending the event.
It may be recalled that the bilateral trade between India and Turkey was about $6 billion in 2014, with the balance of trade veering in India’s favour.
FICCI president Ms. Jyotsna Suri while speaking on the occasion said that Turkish and Indian businesspersons should try to explore more investment opportunities in each other’s countries. She hoped that growing travel by people of the two countries will facilitate further trade growth. Around 120,000 Indian tourists visited Turkey in 2014.
Assocham secretary general D.S. Rawat said, “Assocham will have a dedicated desk to focus on business with Turkey. I am currently seeing a great potential to develop relations across all fields, including social and cultural.”
More than 150 Indian companies presently have registered businesses in Turkey in the form of joint ventures, trade and representative offices. These include Polyplex, GMR Infrastructure, Tata Motors, Mahindra & Mahindra, Reliance, Ispat, Aditya Birla Group, Tractors and Farm Equipment Ltd, Jain Irrigation, Wipro and Dabur.
Turkish companies having presence in India include Limak Construction, Fernas, Sarar, Soktas and Izopoli-Kingspan, and Hidromas.