New Delhi: India’s Surplus on Goods Trading with Turkey has dropped to a low of $ 2.7 billion in FY25, continuing a three-year drive that held it back to pre-Kowed levels, the data from the Ministry of Trade showed. The data reflects a steady decrease in both exports and imports since FY23, which turns the sharp-pandemic boom into FY22. The downturn can continue in FY26 with the softening of trade ties between the two countries amid growing calls to disconnect with Turkey after the tensions between India and Pakistan. Exports to Turkey fell 14% in FY25 to $ 5.72 billion, while imports fell by 21% to around $ 3 billion, reducing trade surplus to $ 2.7 billion. India had an overall shortage of $ 282.83 billion in FY25. The value of the surplus of goods with Turkey was $ 3.42 billion in FY17 and saw modest fluctuations until a sharp rise in FY22 to $ 6.72 billion. It has since fallen, and it has dropped to $ 5.4 billion in FY23, $ 2.86 billion in FY24 and $ 2.7 billion in FY25. India’s primary export to Turkey includes value -adding petroleum products, yarn and dust, auto parts, electric machinery and spare parts for internal combustion engines. Important imports include crude oil, gold, granite and iron and steel. The decline in the export of India to Turkey is largely due to sharp declines in a handful of high value goods, experts said. “India’s Trade With Turkey Has Taken A Sharp Turn in Recent Years, With Exports Falling Dramatically After a Strong Surge Between 2020 and 2022. These setbacks underscore india’s reliance on a narrow set of exports to turkey and revaluable how vulnerable how. Pricing, or regulatory policies, “said Ajay Srivastava, Former Trade Service Official and Founder of the Economic Think Tank Global Trade Research initiative. Meanwhile, India’s trade with Azerbaijan followed another lane, as exports in FY25 rose to $ 94 million by 4.8%, while imports amounted to $ 2 million. Since FY23, India has transferred from a trade deficit to a surplus with Azerbaijan, mainly due to a strategic reduction in crude oil imports from the country. India’s exports to Azerbaijan extend a wide variety – from rice and electrical appliances to pharmaceutical products and processed meat. The import is limited, but includes crude oil, leather goods, inorganic chemicals and lead. Crude oil constantly accounted for more than 94% of India’s imports from Azerbaijan – with 99% in 2022 and 2024 – highlighting a major dependence on a single commodity. It makes the trading ratio vulnerable to fluctuations in world prices and supply disruptions, “he added. A spokesman for the Ministry of Trade and Industry has not responded to e -mail inquiries. Wide diplomatic cold bilateral trade with countries such as Turkey and Azerbaijan is likely to have an influence on FY26, with prominent trade in India which is a recent disabut Nations on their public support ask for the books of nations of their public support of their public support, from both nations about their nations about their nations about their public support.
India -Trade Business with Turkey is shrinking to a decade low in FY25, falling for the third consecutive year | Mint
