Indian merchandise export quality commodities such as cotton, manmade yarn and textile dyes will get impacted due to the earthquake that hit Turkiye.
There were two powerful earthquakes that hit Turkiye on Monday last week. The earthquake was strong enough to cause massive destruction of property. The earthquake killed more than 28,000 people and left millions of people homeless. The earthquake caused a severe damage to the infrastructure and the logistics network. The Port of Iskenderun remained totally shut for a week. The exports were at a peak during April and November 2022 with a profit of $6.2 billion.
The damage is such that the impact on the exports is not yet known. Gaziantep province in Turkey is the manufacturing hub of Turkiye. According to SC Ralhan, president of Hands Tools Association, “trade may get impacted in the short-term only due to the earthquake there, but not in the long run. There was no news so far from the MSME segment exporters of any issue while exporting to Turkiye so far”.
The exports in 2021-2022 reached $9 billion and $2 billion later in the year. India mainly exports mineral oils and fuels, man-made filaments and staple fibres, automotive spare parts and accessories, organic chemicals. Whereas, Turkiye exports broken/unbroken peppy seeds, machinery and mechanical appliances, iron and steel articles, inorganic chemicals, pearls and precious/ semi-precious stones and metals (including imitation jewellery) and marble.
The Indian community in Turkey work on small business establishments and universities mainly in Istanbul and Ankara.
