The strengthening economic ties between Türkiye and India will bring prosperity and growth to both countries, Deputy Trade Minister Rıza Tuna Turagay said Thursday as the Indian Embassy celebrated the South Asian country's 74th Republic Day at an event in the capital Ankara.
As the celebrations kicked off with the singing of the Indian and Turkish national anthems, India's Ambassador to Türkiye Virander Paul conveyed his heartiest greetings to the entire Indian community and friends of India in Türkiye.
Republic Day commemorates Jan. 26, 1950, the adoption of the country's Constitution. In 1947, India gained independence from British rule.
As a country that embraces diverse religions, cultures and languages, while maintaining its inherent unity, Paul said: "India is now among the (world's) fastest-growing economies."
This year, India holds the G-20 presidency and "the theme we have chosen for this is 'One Earth, One Family, One Future,' promoting a universal sense of oneness for global progress," he said.
To mark the day, cultural events such as the singing of Indian traditional songs and a traditional dance ceremony were organized.
Commenting on the relationship between India and Türkiye, he said the two states have "traditionally enjoyed deep historical and cultural linkages. Our annual bilateral trade currently stands at over $12 billion."
Praising India's economic achievement and successful trade partnership with third countries, Turagay said: "I firmly believe that Türkiye and India have a very high potential for bilateral cooperation in various areas such as trade, investment, tourism and technology."
On bilateral trade ties, Turagay highlighted that the trade volume of the two countries rose from $5.7 billion in 2020 "to $12.3 billion in 2022, increasing 2.1-fold."
Besides trade cooperation, the states have a reciprocal investment worth approximately $375 million, according to the official data, he added.
Turagay further underlined that cooperation between the two countries should not be limited to trade but should also expand into other areas.
Paul for his part reiterated that the Turkish and Indian leaders met recently on the sidelines of the Samarkand summit, while the foreign ministers met in New York.
"We have possibilities to develop much broader bilateral relations through mutual understanding. We look forward to realizing our full potential together as strong partners in the 21st century," he added.
