Gemstone, food and tourism entrepreneurs in Hyderabad worry about India-Turkey trade relations

Hyderabad: With Turkish president RT Erdogan reiterating his country’s support for Pakistan, will the India-Turkey trade relations also be affected?

This question is doing rounds in business circles in Hyderabad as members of the India-Turkey business association have invested in gemstones, chemical reagents, healthcare, education and other industries in both countries.

Massive investments signed during trips to Turkey

In April 2025, a group of businessmen visited Turkey under the Indo-Turkiye Friendship Association, and there have been business deals signed for tourism, culture, food, healthcare, education and also home decor.

A member of the association, on condition of anonymity, said, “As much as 90 per cent of the members in the association are non-Muslims. They have invested in gemstones, furniture products and other retail sectors. The association works towards facilitating easy access to the best resources in Turkey.”

According to sources, many of them have carried out their initial investments and are working on projects which will see completion by the end of the year or in two to three years.

Food festivals and outlets seeking long-term commitments

Till May 18, the Turkish Food Festival was being organised at Trident Hotel in Hi-Tech City. This is the third Turkish food festival under the Indo-Turkiye Friendship Association.

There are other exhibitions, fairs and festivals which have been planned for the promotion of business in Hyderabad. There is a furniture fair, gemstone fair and others which have been planned over the year as a part of the association and the promotion of business.

Shahbaz Hussain, a member of the association, said, “Trade and politics must be kept separate. There are businessmen who have invested heavily, and it is because of a long-term relationship with Turkey. Creating panic in investors and businessmen is not good. The channel of diplomacy must be used to sort out issues.”

Billion dollars worth of imports/exports at stake

During the financial year 2024-25, India’s exports to Turkey were 5.2 billion dollars, and imports were 2.84 billion dollars.

The trade sector is witnessing large and medium sectors investments in Turkey from Hyderabad, and the changing scenario is leading to panic as uncertainty over the relations can hamper the trade prospects, explained an investor.

Two institutes cancel MOU

Two educational institutions Jamia Millia Islamia in New Delhi and Maulana Azad National Urdu University have canceled their memorandum of understanding with Government of Republic of Turkiye.

Official announcement:

Jamia Millia Islamia in an announcement on X said, " Due to national security considerations, any Memorandum of Understanding (MoU) between Jamia Millia Islamia, New Delhi, and any institution affiliated with the Government of the Republic of Türkiye stands suspended with immediate effect, until further orders. Jamia Millia Islamia stands firmly with the Nation.

Maulana Azad National Urdu University announced the cancellation of its academic Memorandum of Understanding (MoU) with Yunus Emre Institute, Turkey with immediate effect. The decision is taken in protest against Turkey’s support for Pakistan’s terrorist activities in the backdrop of Indo-Pak tensions.

It is worth mentioning that on 2nd January 2024, MANUU signed a MoU with Yunus Emre Institute, Turkey, for a period of five years, under which a diploma in Turkish language was started at the School of Languages, Linguistics and Indology, MANUU. Services of a visiting Professor were hired for this and the Professor returned to Turkey.