According to officials from the Prime Ministry’s Investment Support and Promotion Agency (ISPAT), the investments are expected to create employment for 200 workers. Among the expected investments, companies from India involved in ship construction and renewable energy have expressed the intention of investing in Turkey, the officials said. Another Indian firm operating in renewable energy has plans to produce energy from forest wastes in Turkey, they added.
In addition, India’s Oberoi Group plans to open a luxury hotel in İstanbul, the Foreign Economic Relations Board (DEİK) announced in a written statement yesterday. With an annual turnover of $230 million, the group has 28 five-star hotels in five countries. ISPAT’s India representative, Ravi Chaudry, said nearly 50 Indian companies, mainly interested in the mining, infrastructure, agriculture, irrigation, textile and jewelry sectors, were eager to invest in Turkey at the moment.
In comments on Gül’s visit to India, Rifat Hisarcıklıoğlu, the president of DEİK and the Turkish Union of Chambers and Commodity Exchanges (TOBB), emphasized the necessity of signing a free trade agreement and the abolition of visa requirements between the two countries. A forum organized by TOBB and its Indian counterpart, the Federation of Indian Chambers of Commerce and Industry (FICCI), is scheduled to take place in İstanbul in August this year.
