Traders’ body to decide tomorrow on boycott of Turkey, Azerbaijan — key trade numbers inside
The Confederation of All India Traders (CAIT) has convened a national conference tomorrow, 16 May in New Delhi with key trade leaders from various states of the country. In this conference, a decision will be made on halting all import-export trade with Turkey and Azerbaijan due to their support for Pakistan, CAIT said on 15 May.
CAIT said that there is no question of trading with countries that are against India, and this is the time for Indian traders to demonstrate their patriotism. Traders across the country are standing united with Prime Minister Narendra Modi’s leadership, the traders’ body said.
CAIT’ Secretary General and Member of Parliament from Chandni Chowk, Praveen Khandelwal, stated that according to available data, from April 2024 to February 2025, India’s exports to Turkey were valued at USD 5.2 billion, compared to USD 6.65 billion in 2023–24. During the same period, imports from Turkey were USD 2.84 billion, down from USD 3.78 billion in 2023–24, Khandelwal.
Similarly, during this period, India’s exports to Azerbaijan were only USD 86.07 million, down from USD 89.67 million in 2023–24. he said. “On the other hand, imports from Azerbaijan were USD 1.93 million during this period, compared to USD 0.74 million in 2023–24,” Khandelwal said.
CAIT national president BC Bhartia said that India exports several key items to Turkey including refined petroleum, motor vehicles and parts, steel, chemicals, pharmaceuticals, precious stones, and textiles. In return, India imports crude petroleum, machinery, marble, gold, fruits, plastics, and textiles from Turkey.
India exports tobacco, electronics, machinery, pharmaceuticals, ceramic products, grains, etc., to Azerbaijan. From Azerbaijan, India mainly imports mineral oils, chemicals, raw hides, aluminum, and cotton, CAIT said.
If Indian traders and industrialists collectively boycott trade, it will financially shake them.
Khandelwal said that as a result of the trade boycott, Turkey could suffer billions of dollars in export losses, which would significantly affect its domestic industries such as stone and mining, furniture, textiles, and food processing.
“The trade with India is profitable for both these countries, and if Indian traders and industrialists collectively boycott trade with them, it will financially shake them and make them pay the price for standing against India,” Khandelwal.