Key Highlights: 

• The exports from India to Turkey were down by 26.9% in FY 2024 to $5.537 billion, although the major industrial goods remained the mainstay of the trade. 

• Aluminium exports stood out as the top performer, registering a massive 167.48% growth, contrary to the trend of slowing exports. 

• Imports by India from Turkey were down 16.56% to $2.624 billion, with major contributions from mineral fuels, machinery, and construction materials. 

• The trade deficit between India and Turkey has increased by nearly 34%, indicating a change in the trend of trade between the two countries in FY 2024. 

India-Turkey Trade Bond has developed from the ancient historic Silk Road association into a modern, multi-billion-dollar commercial way. Over the years, cooperative trade has spread its wings across engineering, chemical, pharmaceutical, textile goods, as well as minerals and agricultural goods. India consistently maintains a trade surplus. While recent geopolitical developments and shifting global trade alignments added a twist to the bond, India-Turkey trade continues to be driven by a strong base market demand, supply chain has mutual and strategic positioning within the Europe-Asia trade pathway.

Top 5 Products India Exports To Turkey 

 

India`s total export to Turkey stands tall at $5.537 Billion in FY 2024, indicating a 26.9% decline compared to FY 2023. Despite this overall slowdown, many key product categories continued to rule India`s export bag. Primary exports included automobiles and auto components, electrical machinery and electronics, industrial machinery, aluminium products, and organic chemicals. Particularly, aluminium and aluminum-based goods appear as the strongest performer, recording a sharp increase every year, a growth 167.48%, indicating rising demand from the Turkish market even amid broader trade shrinkage. 

India’s Top Imports From Turkey In FY 2024

 

India`s total imports from turkey is upto $2.624 billion for FY 2024, showing a 16.56% decline compared to FY 2023, mirroring a wider sink in India- Turkey trade. With this overall drop. India remains consistent in sourcing primary industrial and raw material products through trade with India, including mineral fuels and oils, precious and partly precious materials, industrial machinery, construction-based minerals, and inorganic chemicals. Among these categories, natural or vegetated products saw the strongest growth, recording a 49.6 % year on year upscale, calling attention to the sustained demand, although the broader import slowdown. 

Trade Flow: INDIA To TURKEY

India`s trade deficit with Turkey has increased from $4.429 billion in FY 2023 to $2.912 billion in FY 2024, hardly 34% increase. India`s trade Deficits with definite nations were at an all-time high. 

Conclusion

The Analysis of India-Turkey Trade FY 2014 shows that there is a stage of adjustment rather than a decrease in trade. Despite there being a slow wave in trade between India and Turkey compared to the previous year, considering all the things considered trend of trade is stable. India has continued to export high- quality industrial goods, with aluminium being the primary growth area, although the overall slowdown in trade. On the import side, Turkey has continued to be a stable supplier of energy-related products and industrial materials.
 

Frequently Asked Questions (FAQs)

1. What are the India`s major exports to Turkey?
India exports automobiles and components, electrical machinery, and industrial equipment. Aluminium goods and organic chemicals to Turkey.

2. Which products does India import from Turkey?
India’s imports from Turkey majorly include mineral fuels, industrial machinery, construction materials, and inorganic chemicals.

3. How did India–Turkey trade perform in FY 2024?
India–Turkey trade saw lower volumes in FY 2024, with exports and imports declining, but sector-specific demand remained constant.

4. Why did aluminium exports from India to Turkey grow sharply?
Aluminium exports to Turkey rise due to strong demand from Turkey’s manufacturing and construction sectors.

5. Is Turkey an important trade partner for India?
Yes, Turkey remains a relevant partner in India–Turkey import export trade, especially for industrial and raw material exchanges.

 

 

---