India-Turkey Trade Declines Amid Geopolitical Strains

India-Turkey Trade Declines Amid Geopolitical Strains New Delhi, May 29, 2025 – Bilateral trade between India and Turkey, valued at $10.43 billion in FY 2023-24, has contracted significantly in FY 2024-25, driven by geopolitical tensions and a growing boycott movement in India. The fallout from Turkey’s alleged support for Pakistan during Operation Sindoor in May 2025 has prompted Indian traders and consumers to target Turkish goods and services, reshaping economic ties. Trade Snapshot: A Contracting Relationship According to India’s Ministry of Commerce, bilateral trade in FY 2023-24 reached $10.43 billion, with India exporting $6.65 billion and importing $3.78 billion, yielding a trade surplus of $2.87 billion. However, from April to February FY 2024-25, exports to Turkey dropped to $5.2 billion (1.5% of India’s $437 billion total exports), and imports fell to $2.84 billion (0.5% of India’s $720 billion total imports), resulting in a $2.37 billion surplus. This marks a 37% decline from FY 2022-23’s $13.8 billion trade volume. India’s key exports to Turkey in FY 2023-24 included engineering goods ($2.75 billion), petroleum products ($954 million), electronic goods ($532 million), organic/inorganic chemicals ($528 million), man-made yarn ($378 million), and pharmaceuticals ($291 million). Turkey’s exports to India were led by mineral fuels/oils ($1.8 billion), nuclear reactors/parts ($311 million), salt/plastering materials ($235 million), inorganic chemicals ($188 million), and pearls ($132 million). From April to October 2024, India’s imports from Turkey totaled $1.9 billion, with mineral fuels ($600.96 million) and pearls ($237.56 million) leading. Boycott Movement Gains Momentum The Confederation of All India Traders (CAIT) has spearheaded a boycott targeting Turkish apples ($92.8 million in 2023) and marble, which constitutes 70% of India’s marble imports (valued at ₹2,500–3,000 crore annually). Indian traders are shifting to alternatives, sourcing apples from Iran and New Zealand and marble from Italy. The boycott extends to tourism, with Turkey hosting 330,000 Indian visitors in 2023 (up 20.7% from 2022). Travel bookings have dropped 60%, with cancellations rising 250%, threatening Turkey’s $54.3 billion tourism revenue. In the aviation sector, Turkish firm Çelebi Aviation lost $200 million in shareholder value after India revoked its security clearance, reflecting the broader economic fallout. Investment Ties Turkish foreign direct investment (FDI) in India from April 2000 to September 2024 totaled $240.18 million, while Indian investments in Turkey ranged between $126 million and $200 million, indicating modest but balanced capital flows. Historical Context and Challenges India and Turkey established trade ties through a 1973 agreement, followed by the 1983 Joint Commission on Economic and Technical Cooperation. Despite this foundation, India’s limited dependence on Turkey (1.5% of exports, 0.5% of imports) allows flexibility to pursue boycotts. However, sectors like engineering goods and chemicals may face supply chain adjustments if trade halts. Data discrepancies persist, with Turkey reporting $1.52 billion in exports to India in 2024, while India recorded $2.62–2.84 billion in imports. These variations, likely due to differing reporting periods, underscore the need to verify data with sources like India’s Ministry of Commerce or UN COMTRADE. Outlook India’s trade surplus and access to global alternatives mitigate the boycott’s economic impact, but the decline in trade and tourism signals strained relations. As Indian businesses pivot to new markets, the future of India-Turkey economic ties remains uncertain. For detailed trade insights, visit https://x.ai/grok for subscription-based access or https://help.x.com/en/using-x/x-premium for updates.

Bilateral trade between India and Turkey, valued at $10.43 billion in FY 2023-24, has contracted significantly in FY 2024-25, driven by geopolitical tensions and a growing boycott movement in India. The fallout from Turkey’s alleged support for Pakistan during Operation Sindoor in May 2025 has prompted Indian traders and consumers to target Turkish goods and … Read more

World’s Oldest Human Fingerprint Unearthed in Spain: A 43,000-Year-Old Neanderthal Masterpiece

Oldest full human fingerprint found in Spain, dated 43,000 years

In a groundbreaking discovery, archaeologists in Spain have uncovered what is believed to be the oldest complete human fingerprint ever found, dating back 43,000 years. Discovered in the San Lazaro rock shelter near Segovia, central Spain, this remarkable find—a red ochre fingerprint on a granite pebble—offers new insights into the cognitive and artistic abilities of … Read more

Florida Embraces Gold and Silver as Legal Tender in Historic Move

Florida Embraces Gold and Silver as Legal Tender in Historic Move

In a groundbreaking step, Florida has become the first major U.S. state to recognize gold and silver coins as legal tender for everyday transactions. On May 27, 2025, Governor Ron DeSantis signed House Bill 999 (HB 999) into law during a ceremonial event in Apopka, setting the stage for Floridians to use precious metals for … Read more

Trump’s Approval Rating Shows Mixed Results in Recent 2025 Polls

Trump’s Approval Rating Shows Mixed Results in Recent 2025 Polls

Washington, D.C. – May 28, 2025. President Donald Trump’s approval rating in his second term presents a mixed picture, with some recent polls indicating a surge in public support while others highlight ongoing challenges. As Trump advances his agenda on trade, immigration, and economic policy, public opinion remains sharply polarized, reflecting both his loyal base … Read more

Fifth-Generation Fighter Jets: How Advanced Warplanes Are Redefining Air Superiority

Fifth-Generation Fighter Jets

In an era defined by high-tech warfare and shifting geopolitical dynamics, fifth-generation fighter jets have emerged as a game-changer in modern aerial combat. Armed with stealth capabilities, cutting-edge avionics, and real-time data fusion, these warplanes represent the pinnacle of air power in the 21st century. As the United States, China, and Russia field advanced fleets, … Read more

How Global Warming is Reshaping India’s Monsoon

How Global Warming is Reshaping India's Monsoon

India’s monsoon, often called the lifeline of the nation, is a vital seasonal phenomenon that delivers about 70% of the country’s annual rainfall between June and September. This rainfall sustains agriculture, fills reservoirs, and supports the livelihoods of nearly half of India’s 1.4 billion people. However, global warming is profoundly altering the monsoon’s patterns, intensity, … Read more

Apple Cancels Plans for Camera-Equipped Apple Watch, Shifts Focus to AI Smart Glasses

Apple Cancels Plans for Camera-Equipped Apple Watch, Shifts Focus to AI Smart Glasses

In a surprising turn of events, Apple has reportedly scrapped its plans to introduce a camera-equipped Apple Watch, a feature speculated to debut in 2027 models, including the Apple Watch Series 12 and Watch Ultra 4. According to a recent Bloomberg report, the tech giant is redirecting its efforts toward developing AI-powered smart glasses, aiming … Read more

Shri Amarnath Yatra 2025: A Comprehensive Guide to the Sacred Pilgrimage

Shri Amarnath Yatra 2025: A Comprehensive Guide to the Sacred Pilgrimage

Jammu & Kashmir, India – The revered Shri Amarnath Yatra, an annual pilgrimage to the holy cave shrine of Lord Shiva in the Himalayas, is set to commence on July 3, 2025, and conclude on August 9, 2025, coinciding with Raksha Bandhan. This 38-day spiritual journey, managed by the Shri Amarnathji Shrine Board (SASB), attracts … Read more

Bitcoin Hits All-Time High as Crypto Sentiment Surges in 2025

Bitcoin Hits All-Time High as Crypto Sentiment Surges in 2025

Bitcoin soars to $109,760.08, driven by strong crypto sentiment and institutional investment. Explore the factors behind this record-breaking surge. Bitcoin has reached an unprecedented peak, climbing to $109,760.08 on Wednesday, May 22, 2025, surpassing its previous high from January. The world’s leading cryptocurrency settled at $108,117, marking a 1.1% increase, fueled by a wave of … Read more

Top 10 Books on Relationships to Strengthen Your Bonds

Top 10 Books on Relationships to Strengthen Your Bonds

Relationships are the cornerstone of a fulfilling life, whether romantic, familial, or platonic. Understanding how to nurture and maintain these connections can be transformative, and books offer timeless wisdom to guide you. At The Interview Times, we’ve curated a list of the top 10 books on relationships to help you build stronger, healthier bonds in … Read more

Indian Startup Challenges & Success Stories: Lessons Learned

Indian Startup Challenges & Success Stories: Lessons Learned

Navigate common startup challenges in India, from funding to talent, with practical solutions. This concluding article also draws lessons from successful Indian startups like Paytm, Flipkart, and Zomato to inspire your entrepreneurial journey. In the concluding article of this series on starting a startup in India, we will address the common challenges that entrepreneurs often … Read more

Reach & Recruit: Essential Strategies for Indian Startups

Reach & Recruit: Essential Strategies for Indian Startups

Learn how to effectively reach your customers and build a strong team for your Indian startup. This article covers essential marketing and sales strategies, including digital and regional approaches, and talent acquisition. In the previous parts of this series, we have discussed the essential steps for starting a startup in India, including legalities and funding. … Read more

Fueling Growth: Funding Your Startup Venture

Fueling Growth: Funding Your Startup Venture

Discover diverse funding strategies for your Indian startup. Learn about bootstrapping, securing investment from angel investors and VCs, exploring government grants, understanding debt financing, and crafting a winning pitch deck. In the previous articles of this series, we have covered the initial steps of defining a startup, choosing a legal structure, and navigating the registration … Read more

Navigating the Legal Landscape: Registration and Compliance

Navigating the Legal Landscape: Registration and Compliance

Master the legalities of launching your Indian startup. This guide covers step-by-step company incorporation via MCA, the process and benefits of DPIIT recognition, and essential licenses and permits for operational compliance. In the previous article, we explored the foundational aspects of starting a startup in India, including the definition of a startup and the importance … Read more

The Indian Startup Ecosystem: Laying the Foundation

The Indian Startup Ecosystem: Laying the Foundation

Lay the groundwork for your Indian startup! This first article in a 5-part series defines what qualifies as a startup in India, explains DPIIT recognition, and helps you choose the optimal legal structure like Private Limited Company, LLP, or OPC. Introduction: The Burgeoning Indian Startup Ecosystem India’s startup ecosystem has witnessed remarkable expansion in recent … Read more

Top 10 AI Tools for Researchers in 2025

Top 10 AI Tools for Researchers in 2025

Discover the top 10 AI tools for researchers in 2025, revolutionizing academic workflows. From literature reviews to data analysis, tools like Consensus, Elicit, and Scite boost efficiency. Explore the best AI for research at The Interview Times. In 2025, artificial intelligence (AI) is revolutionizing academic research, streamlining workflows, and uncovering insights faster than ever before. … Read more

Trump’s Golden Dome Missile Shield: A $500 Billion Vision to Protect America

Golden Dome missile shield

Explore Trump’s Golden Dome missile shield, a $500 billion defense initiative to counter ballistic and hypersonic threats. Learn about its costs, technology, and challenges. Washington, D.C. — President Donald Trump’s ambitious Golden Dome missile shield, inspired by Israel’s Iron Dome, aims to protect the United States from advanced missile threats, including ballistic, hypersonic, and cruise … Read more

Qatar Airways Posts Record $2.1 Billion Profit and Historic Boeing Order in 2025

Qatar Airways Profit 2025: Record $2.1 Billion and Historic Boeing Order

Qatar Airways reports a record $2.1B profit in 2025 and a historic $96B Boeing order for 210 aircraft. Learn more! Qatar Airways has soared to new heights, announcing a record-breaking $2.1 billion net profit for the 2024/2025 fiscal year and a landmark Boeing aircraft order worth $96 billion. These milestones solidify the airline’s position as … Read more

Spain Orders Airbnb to Remove 65,000 Illegal Holiday Rentals in 2025

Spain Orders Airbnb to Remove 65,000 Illegal Holiday Rentals in 2025

Spain orders Airbnb to remove 65,000 illegal holiday rentals in 2025 to combat housing crisis. Learn how this impacts tourism and locals. In a major crackdown on short-term rentals, Spain’s Consumer Rights Ministry has ordered Airbnb to remove 65,935 illegal holiday rental listings from its platform, effective May 19, 2025. The directive, announced amid a … Read more

Supreme Court Rejects Vodafone Idea’s $5B AGR Dues Plea in 2025

Supreme Court Rejects Vodafone Idea’s $5B AGR Dues Plea in 2025

On May 19, 2025, the Supreme Court of India rejected Vodafone Idea’s plea for a waiver of over $5 billion (₹30,000 crore) in Adjusted Gross Revenue (AGR) dues, a decision that could reshape India’s telecom sector. The ruling, delivered by Justices J.B. Pardiwala and R. Mahadevan, dismissed petitions from Vodafone Idea, Bharti Airtel, and Tata … Read more