Turkey said it wants to be a part of “Make in India” project to grow bilateral trade and investments.
“I personally think the biggest incentive here now is stability and predictability. We have a strong feeling that chances of this country being successful are very high as it has all the conditions in place,” Turkish Finance Minister Mehmet Simsek said when he was in an official tour in India.
He said trade between India and Turkey, members of the G-20, is low at present, and there is a huge potential to extend bilateral business links.
“In 2014, bilateral trade stood at mere $7.5 billion. But I see it to quadruple in next decade,” Simsek said.
The Minister admired the Indian government’s “Make in India” campaign and said Turkish companies are eager to be a part of the project, which seeks to change India into a worldwide manufacturing hub.
“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.
He said Turkish companies can take part in numerous sectors, such as, innovation, vitality, machine hardware, base, petrochemicals and sustenance handling.
The Turkish Minister said India could utilize Turkey’s skill as a part of foundation improvement and development. Turkish companies have significant experience in doing huge activities abroad.
The Minister also met India’s business pioneers, including Tata Sons executive Cyrus Mistry.
Turkey is an essential nation for Tata Group’s organizations, particularly for its steel and force units, which will be supplying power to the Mediterranean country from its under-development Georgia plant.
Simsek also met Finance Minister Arun Jaitley in New Delhi. The Minister said Turkey’s engagement in the ‘Make in India’ campaign won’t just develop exchange between the two nations but also provide employment. One issue hampering the development of business is a low awareness and acceptance about circumstances in India among Turkish organizations.
“In general, the core issue is that there is lack of awareness about opportunities here. The ‘Make in India’ program needs to be promoted in Turkey, where not many people are familiar with it,” Simsek said.