Grand Launch of Indo-Turkiye Friendship Association

Hyderabad: The ITFA aims to increase the trade and investment relations, opening new windows for the companies and widen horizons for both business circles. The ITFA has already been introduced and accredited by the Turkish Consulate General to the top Turkish business organizations including the stakeholders in the Turkish innovation ecosystem such as the main science and technology parks, incubators and universities.

India and Türkiye are rising countries in their regions and becoming more and more popular and effective in global markets. India is the 5th largest economy of the World. Türkiye, with its strategic location and young, dynamic population, is one of the significant economies in Europe and the World. As of 2024, Türkiye is the World’s 11th largest economy and the 4th largest economy in Europe in terms of purchasing power parity (PPP). Türkiye’s GDP in 2023 was around 1 trillion USD. This places Turkiye as a major player in the global economy. The bilateral trade between India and Türkiye has already reached 13 billion USD in 2024. The new target in the middle term voiced by two Governments is 20 billion USD. Considering the sizes of both economies, there is a huge potential between our countries to further enhance, deepen and diversify the trade relations and investments. IT, software, pharma, defense, aero-space, cyber security, green and renewable energies and critical minerals are the rising sectors in both countries. Besides, health, food security, logistics and supply chains are also becoming more and more important in both countries.

The Indian and Turkish companies can search cooperation, investment and trade opportunities in those areas. Moreover, food and agriculture, all kinds of machinery, vehicles and vehicle parts, textile, electronic products, furniture, kitchen items, decoration items, stones and semiprecious stones etc. could be mentioned among the promising items to trade.

Mr Orhan Yalmanokan, Consul General of Turkiye

Hyderabad has a special place in the hearts of Turkish people, and I am so glad to see the love and affection of the people of Hyderabad for Türkiye, Turkish people and culture. Of course, these special mutual feelings are based on our deep cultural and historical ties, starting from Nizams’ times. Hyderabad is a unique and exemplary city with its dynamic population and robust economic structure. She is pushing a lot to become a global city. It is our duty to further upgrade our economic and trade relations to higher levels. Having this in mind, I initiated the establishment of ITFA which will provide continuous and effective connectivity between both business circles.

Hyderabad is blessed to have T-Hub. T-Hub has already become a global brand with its success on national and international levels. T-Hub is also a very effective and productive tool to further increase the trade and investment relations with its vast networking. It was inevitable to see a cooperation between T-Hub and ITFA soon or later. Now I am very glad to witness the signing of the cooperation MOU between these two valuable institutions. It is my sincere wish and desire that this cooperation will also pave the way to open a Turkish-India Technology Transfer Office in T-Hub.

Mr Faiz Khan, chairman of IFTA

Hyderabad and Türkiye have long shared a unique and cherished bond, rooted in common values, cultural traditions, and a shared appreciation for creativity and innovation. This connection reflects the broader relationship between India and Türkiye, two nations that have excelled in diverse fields such as healthcare, medicine, education, the film and entertainment industry, and tourism. Building on these shared strengths, this partnership seeks to create new opportunities for mutual growth and collaboration. The collaboration between T-Hub and ITFA is a significant milestone, symbolizing the shared aspirations of two nations that complement each other in remarkable ways. While India boasts a thriving innovation ecosystem and a vast talent pool, Türkiye offers a strategic gateway to European and global markets, supported by its dynamic economy and entrepreneurial spirit. Together, these strengths create boundless opportunities for startups to explore new markets, develop innovative solutions, and form impactful collaborations. This partnership aims to empower businesses from both countries to thrive in emerging industries such as renewable energy, technology, cyber security, and advanced manufacturing. By fostering connectivity, organizing networking events, and facilitating access to resources and expertise, this collaboration provides a vital platform for innovation, economic growth, and cross-cultural exchange. Ultimately, this association is not only about advancing economic ties but also about strengthening the bonds of friendship and mutual understanding between the people of India and Türkiye. It is a reflection of our shared vision and values, with the fundamental objective of celebrating cultures and creating opportunities for generations to come.