How PM Narendra Modi wants to deepen economic ties with Turkey

By: | Updated: May 1, 2017 1:49 PM

"While this (economic relation) is encouraging, the level of present economic and commercial relations is not enough against the real potential," says PM Modi.

narendra modi erdogen, india turkey, turkey president Recep Tayyip Erdogan, turkey president india visit, Recep Tayyip Erdogan, modi erdogen, erdogen modiPrime Minister Narendra Modi, right, welcomes Turkish President Recep Tayyip Erdogan, center, as Indian President Pranab Mukherjee, left, watches them during the ceremonial reception of Erdogan at the Indian presidential palace, in New Delhi, on Monday, May 1, 2017. (AP Photo)

Prime Minister Narendra Modi today stressed on putting in “aggressive effort” to deepen economic ties with Turkey. While addressing a business summit with Turkey President Recep Tayyip Erdogan, who is visiting India, PM Modi acknowledged that both countries share “good” economic relations. However, this is not up to the “real potential.”

“India and Turkey enjoy good economic ties. While this (economic relation with Turkey) is encouraging, the level of present economic and commercial relations is not enough against the real potential,” Modi said.

To realise the full potential of economic ties with Turkey, PM Modi said, “As we strive to build stronger political ties, the time has come to also make more aggressive effort to deepen the economic relations.”

“Today’s knowledge-based global economy is continuously opening new areas. We must factor this in our economic & commercial interactions,” he added.

The Indian Prime Minister talked about the state of Indian economy and the steps taken by his government to take it to a new level in the next few years. “Indian economy is the fastest growing major economy. Apart from maintaining this pace, our focus is to remove inefficiencies from the system. We have planned to build 50 million houses by 2022. For this purpose, we have repeatedly refined our FDI Policy in the construction sector.

“We are planning metro rail projects in fifty cities and high-speed trains in various national corridors. We are putting up new ports and modernizing the old ones through an ambitious plan called Sagarmala. Hydrocarbon sector is a common area of interest for both countries. The same would also be relevant for solar and wind energy,” he said.

PM Modi called for Turkish investment in these development projects in India and also urge the Chambers of Commerce & Industry of both countries to engage with each other “pro-actively.”

On Sunday, Turkish President Erdogan has suggested a “multilateral dialogue” resolve the Kashmir issue for ensuring peace in the region. Erdogen also favoured India’s bid for membership of the Nuclear Suppliers Group (NSG) besides that of Pakistan, saying India should not have an objection to it.

“We should not allow more casualties to occur (in Kashmir). By having a multilateral dialogue, (in which) we can be involved, we can seek ways to settle the issue once and for all,” he told WION news channel in an interview. The Turkish President further said that it is in the interest of India and Pakistan that they should resolve this issue and not leave it for the future generations who will have to suffer.

“All around the world, there is no better option than keeping the channel of dialogue open. If we contribute towards global peace, we can get a very positive result,” he said.

(With PTI inputs)

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