DANCE OF ECSTASY?

The FDI between the two countries is at pathetically low levels (with India receiving just 0.1 million in past 15 years). Clearly, there remains a gaping opportunity to tap. On the brighter side, Turkey has been a host to a number of remarkable Indo-Turkish projects like the $35 million construction project awarded to IRCON, Punj Lloyd’s collaboration with LIMAK for the prestigious Baku-Ceyhan Pipeline and the signing of an array of MoUs between Turkey and Indian oil and gas companies like GAIL and ONGC Videsh Limited. Both the countries are trying to come up on this front, as the institutions like WTC Mumbai and Indo-Turkish Business Association are leaving no stone unturned in their effort to push investment between the two countries. India and Turkey have signed many agreements including double taxation avoidance agreement and Joint Economic Commission on trade. The latest being the field-oil exploration, as per which, India will contribute through its IT knowledge & Turkey will provide its oil reserves. Located at the crossroads between Asia and Europe, and possibly the next member of the EU, Turkey is one country which India should definitely partner with.

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Source:- IIPM Editorial

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