{"id":94275,"date":"2025-05-11T21:03:30","date_gmt":"2025-05-11T15:33:30","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=94275"},"modified":"2025-05-14T14:06:48","modified_gmt":"2025-05-14T08:36:48","slug":"indias-12-billion-trade-with-turkiye-and-azerbaijan","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2025\/05\/11\/indias-12-billion-trade-with-turkiye-and-azerbaijan\/","title":{"rendered":"India\u2019s $12 Billion Trade with T\u00fcrkiye, Azerbaijan Extends Beyond Tourism"},"content":{"rendered":"\n

NEW DELHI-<\/strong> India\u2019s trade with T\u00fcrkiye (Turkey)<\/a> and Azerbaijan thrives, reaching $12 billion annually, driven by exports, imports, and energy partnerships. Tourism and direct flights further strengthen ties, despite regional tensions.<\/p>\n\n\n\n

India is a major importer of Azerbaijani crude oil and a growing export partner for T\u00fcrkiye, with travel and tourism also showing double-digit growth.<\/p>\n\n\n\n

\"India\u2019s
Photo: Nabil Molinari | Flickr<\/figcaption><\/figure>\n\n\n\n

India’s $12 Billion Trade<\/h2>\n\n\n\n

India\u2019s bilateral trade with T\u00fcrkiye<\/a> stood at $10.43 billion in FY2023\u201324, according to the Ministry of External Affairs (MEA). <\/p>\n\n\n\n

India exported goods worth $6.65 billion to T\u00fcrkiye while importing $3.78 billion in return. Though slightly lower than the previous fiscal year’s $13.8 billion, the figures underscore a sustained economic partnership.<\/p>\n\n\n\n

India\u2019s engagement with Azerbaijan<\/a> has also grown significantly. From just $50 million in 2005, bilateral trade reached $1.435 billion in 2023. <\/p>\n\n\n\n

India imported $1.235 billion worth of goods, mainly crude oil, and exported products worth $201 million. <\/p>\n\n\n\n

India was the third-largest destination for Azerbaijan\u2019s crude oil, accounting for 7.6% of its total exports valued at $1.227 billion.<\/p>\n\n\n\n

As per data from the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investment (FDI) from T\u00fcrkiye to India totaled $227.5 million between April 2000 and December 2023. <\/p>\n\n\n\n

Indian companies have invested around $200 million in T\u00fcrkiye between August 2000 and March 2024.<\/p>\n\n\n\n

\"British
Photo: Ryan Clyde, Pilot at British Airways<\/figcaption><\/figure>\n\n\n\n

Rising Travel and Tourism<\/h2>\n\n\n\n

According to Business Today<\/a>, 117,302 Indian tourists visited Azerbaijan in 2023, nearly doubling the 2022 figure of 60,731. By early 2024, that number had already surpassed 243,000.<\/p>\n\n\n\n

India is currently the fourth-largest source of tourists for Azerbaijan, following Russia, T\u00fcrkiye, and Iran. <\/p>\n\n\n\n

Direct air connectivity, ten weekly flights between Delhi (DEL) and Baku (GYD) operated by IndiGo (6E)<\/a> and Azerbaijan Airlines (J2)<\/a>, has contributed to this surge.<\/p>\n\n\n\n

Similarly, Turkey saw a 20.7% year-on-year increase in Indian tourist arrivals, with 330,000 Indians visiting in 2023, up from 274,000 in 2022.<\/p>\n\n\n\n

However, recent border tensions between India and Pakistan have influenced travel sentiment. <\/p>\n\n\n\n

As both T\u00fcrkiye and Azerbaijan expressed diplomatic support for Pakistan, several Indian travel operators have paused bookings to these destinations, advising caution.<\/p>\n\n\n\n

\"India\u2019s
Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n

Economic Cooperation<\/h2>\n\n\n\n

India\u2019s growing footprint in T\u00fcrkiye and Azerbaijan signals a diversification in economic cooperation beyond energy and travel. <\/p>\n\n\n\n

The sectors of pharmaceuticals, textiles, construction, and IT services are increasingly becoming part of bilateral trade discussions.<\/p>\n\n\n\n

Indian companies are also exploring infrastructure and renewable energy projects in Azerbaijan, while T\u00fcrkiye is seeking to boost its industrial exports to India.<\/p>\n\n\n\n

Despite occasional political tensions, India\u2019s long-term economic agenda with these countries remains focused on expanding trade, enhancing investment flows, and deepening people-to-people ties.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on\u00a0Telegram Group\u00a0<\/a>for the Latest Aviation Updates. Subsequently, follow us on\u00a0Google News<\/a><\/p>\n\n\n\n

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5 Countries to Visit Instead of Azerbaijan and Turkey<\/a><\/blockquote>