Türkiye and India should cooperate on strategic economic areas in changing dynamics in today’s world because both countries have growing economies and are emerging as regional powers. India is in the process of becoming a global power with a developing economy and a broad market. Türkiye has also been growing its economy and becoming more internationalised. By working together, they can leverage their strengths and create new opportunities for trade and investment.
Benefits of Türkiye-India cooperation
The potential benefits of Türkiye-India cooperation are numerous. Both countries have shared interests and problems in Central Asia, West Asia, and Africa. They can cooperate in these regions to help diversify trade and investment. Türkiye attaches great importance to India, which is in the process of becoming a global power with a developing economy, broad market, military power, and superior space technology. By working together, they can leverage their strengths and create new opportunities for trade and investment. Türkiye and India can establish a strategic partnership in economic, political, and cultural terms. They can also develop an effective strategic cooperation ground regarding the sustainability of long-term interests that bear great importance for both countries. Overall, cooperation between Türkiye and India can lead to mutual benefits and help both countries become more influential in the region and the world.
Potential areas of cooperation
There are several potential areas of cooperation between Türkiye and India. Given Türkiye’s location and its vital stakes in Middle East issues, India needs to rebuild its relations with Türkiye. The countries can cooperate in Central Asia, West Asia, and Africa to help diversify trade and investment. The bilateral trade relations between India and Türkiye lay emphasis on developing cooperation programmes that focus on trade and other areas. India and Türkiye can also cooperate in cultural, people-to-people, and political contacts. Both countries have shared interests and problems, and they have managed to reach important decisions even in their difficult phase of bilateral relations. Some of the key areas of cooperation between Indian and Turkish companies include information technology and shipbuilding.
There is an interest in expanding cooperation in space technology between India and Türkiye. India’s Department of Science and Technology and Indian Space Research Organisation (ISRO) are devoted to strengthening international science and technology cooperation.
Overall, there are many potential areas of cooperation between Türkiye and India, and by working together, they can leverage their strengths and create new opportunities for trade and investment.
Sectors including banking, healthcare, and media are set to benefit immensely from the development of technology in Türkiye. By investing in Türkiye’s technology sector, India can benefit from the growth of Türkiye’s technology industry.
There may be challenges ahead. However, both countries have expressed a commitment to maintaining a positive and productive relationship and to addressing any challenges through constructive dialogue.
Advanced Science and Technology Dialogue
The Advanced Science and Technology Dialogue is a mechanism for cooperation between India and Türkiye in the field of science and technology. It was launched on February 9, 2010, and aims to develop and expand cooperation in science and technology and in other areas of common interest. The dialogue includes the conduct of joint research projects and studies and other forms of scientific and technological cooperation as may be mutually agreed upon. Indiaand Türkiye have expressed a commitment to maintaining a positive and productive relationship and to enhancing cooperation in various fields, including science and technology. The Advanced Science and Technology Dialogue is only one of the mechanisms that both countries may use to promote cooperation in scientific research and development.
Importance in shifting global supply chains
Türkiye is an important player in the reconfiguration of global supply chains, with ambitions in transport and logistics. Türkiye’s strategic geographic location connecting Asia and Europe has made it an increasingly attractive alternative in the context of global supply chain reconfiguration. The country has high potential for exports and global value chains, and is expected to benefit from diversification of value chains by US and EU companies. Additionally, Türkiye is seen as a potential destination for supply chains shifting from China. India is also seen as a country that could benefit from diversification of value chains.
India can benefit from diversifying value chains in several ways. The pandemic and changing geopolitical dynamics have highlighted India as a promising supply chain diversification option.
Diversification of value chains can also help India to reduce its dependence on a few countries and companies, and to increase its competitiveness in the global market.
There is potential for India and Türkiye to cooperate on building new global value and supply chains. For example, there are benefits of building a food corridor between India, Türkiye, and the Middle East which would include increased food security, job creation, agricultural yield, and reduced food waste and prices.
Cüneyt Yavuzcan is Consul General, Consulate General of Türkiye. The views expressed by the author are personal.
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