Huge investment opportunities for Turkish construction firms in India: Suresh Prabhu

NEW DELHI: Huge investment opportunities exist in India in various sectors including construction for Turkish companies, Commerce and Industry Minister Suresh Prabhu said on Tuesday.nnHe said all issues such as trade deficit, raised by Turkey, would be looked upon by India.nn”There is a huge potential for Turkish construction companies to operate in India,” Prabhu said here at India-Turkey Business Forum meet.nnWhile India’s exports to Turkey stood at USD 5 billion, imports were only USD 2.2 billion in 2017-18.nn”We have discussed all issues and we will resolve those” to promote trade and investments between the two countries, he said.nnTurkey has flagged issues related to export of poppy seeds, agri products and enhancing banking relations to push its shipments in India.nnIn May, the Cabinet approved signing of a pact between the countries on trade in poppy seeds to ensure quick and transparent processing for its import from Turkey.nnThe minister has also agreed to visit Turkey in February to discuss ways to further expand trade and investment relations.nnThere is also a proposal from Turkey for doing trade in local currency with India.nnSpeaking at the event, Turkish Trade Minister Ruhsar Pekcan said her country will provide all support to put in place a proposed free trade agreement with India.nnShe raised the issue of letters of credit, which are not accepted in India.nnShe added that increase in number of flights between the countries would help promote the growth of tourism sector.nnThe minister also emphasised to remove obstacles in promoting “sustainable trade”.nnSource: Press Trust of India