India's Trade and Tourism Relations with Turkey and Azerbaijan Hit Roadblock
India's recent military strikes on terror camps in Pakistan and Pakistan-occupied Kashmir have led to a shift in public sentiment, with several travel and trade bodies calling for boycotts against Turkey and Azerbaijan, which have publicly backed Pakistan. The diplomatic stance of the two nations has resulted in a dramatic decline in tourism and trade, with Indian tourism bodies urging the government to issue a formal travel advisory for citizens.
Key Takeaways:
- The Indian Chamber of Commerce's Expert Committee on Aviation and Tourism predicts a 50-60% decline in tourism to Turkey and Azerbaijan due to the current diplomatic tensions.
- Indian traders have begun boycotting Turkish goods, including apples and marble, in response to Ankara's stance in support of Pakistan.
- India's exports to Turkey stood at USD 5.2 billion during April-February 2024-25, down from USD 6.65 billion the previous year, comprising just 1.5% of total exports.
- Exports to Azerbaijan were significantly lower at USD 86.07 million, or 0.02% of total outbound shipments.
- Imports from Turkey totaled USD 2.84 billion, while imports from Azerbaijan were negligible at USD 1.93 million, highlighting the minimal economic impact of trade retaliation.
- Pakistan's deployment of Turkish drones to target Indian military positions has added a new layer of complexity to India's defence and security concerns, making it crucial to evaluate bilateral cooperation with Turkey.
Statistics:
- 50-60% decline in tourism to Turkey and Azerbaijan predicted by the Indian Chamber of Commerce's Expert Committee on Aviation and Tourism.
- USD 5.2 billion: India's exports to Turkey during April-February 2024-25.
- USD 6.65 billion: India's exports to Turkey the previous year.
- 1.5%: Share of Turkey in total Indian exports.
- USD 86.07 million: India's exports to Azerbaijan.
- 0.02%: Share of Azerbaijan in total Indian exports.
- USD 2.84 billion: India's imports from Turkey.
- USD 1.93 million: India's imports from Azerbaijan.
Sources:
- IE Online Media Services Pvt. Ltd.
- Contify.com