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Shri Ashwani addresses Indo-Turkish Business Summit

20
Mar '08

Addressing the Indo-Turkish Business Summit titled “A New Beginning for Turkish-Indian Relations: Business and Investment Opportunities, Dr. Ashwani Kumar, Minister of State for Industry, has called for increasing the trade and investment flows between India and Turkey.

He said that GDP in both the countries is dominated by private sector and find similarities in pluralist, secular democracy and free market economy, which enabled four times growth of trade between 2002-03 to 2006-07 at US $ 1.6 billion.

The Seminar was also addressed by Mr. Kursad Tuzmen, Turkish Minister of State for Foreign Trade and Foreign Contacting Services, and attended by senior officials from the Ministry of Commerce and Industry and representatives of apex chambers from both the countries.

During the course of discussion, Dr. Ashwani Kumar, flagged four key aspects of policy framework i.e, agriculture & rural development; infrastructure education; and health care for stepping up growth and at the same time make growth more inclusive.

Indian investments in Turkey are in diverse sectors viz., railway construction, electricity transmission, pipelines, consultancy services for earthquake emergency, hydro-carbon, CNG conversion and IT services.

Turkish investments in India are in sectors of tourism & travel, home textile products, construction/maintenance of roads etc.

India's exports to Turkey largely consist of manmade yarn fabrics, made-ups, transport equipments, cotton yarn, fabrics, drugs & pharmaceuticals & fine chemicals, plastic & linoleum products etc.

The main imports from Turkey are petroleum, crude products, machinery except electrical & electronics, inorganic chemicals, spices etc.

Press Information Bureau Government of India

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