Turkey extends support to ‘Make in India’, calls for Indian investments

The Dollar Business Bureau The Government of Turkey announced its willingness to be part of the Government of India’s Make in India initiative. According to the sources, the Turkish Finance Minister Mehmet Simsek as a part of his visit to India on Monday lauded the governmental policies and wished to expand the already-existing trade relations with India. Expressing the hope towards faster development of India, the Turkish Minister invited India to make investments in energy and information technology sectors of Turkey. He also expressed the Turkish government’s desire to be part of India’s Make in India campaign, saying that the Turkish government will join in transforming India as a global manufacturing hub. He also expressed hope that the bilateral trade between India and Turkey, that recorded around $7.5 billion in 2014, would be grow four times more in the next decade. While mentioning that the Turkish companies have significant experience in carrying out larger projects worldwide, the Minister asked India to consider the infrastructure projects from Iran. Turkish companies cannot afford to miss the opportunities in India, they cannot afford to be left out in the Make in India campaign. We want to be part of it," said Simsek, according to the sources. The Minister also highlighted the expertise of the Turkish companies various other sectors such as technology, energy, machine equipment, infrastructure, petrochemicals and food processing, among others. The Minister further said that Turkey joining India in Make in India will not only boost the bilateral trade between the two countries, but will also create a larger scope for the employment generation on the two sides. While informing that the companies in Turkey are unaware of India’s campaign for domestic manufacturing, the Minister asked the Indian government to promote the Make in India initiative in Turkey to attract more businesses.  

This article was published on February 24, 2015.