Amidst social media boycotts of trade and tourism with Turkey and Azerbaijan, trade data from the DGCIS (Directorate General of Commercial Intelligence and Statistics) has revealed that India’s bilateral trade with both countries has significantly decreased over the last two fiscal years.

The Lok Sabha MP from Chandni Chowk and CAIT’s Secretary General, Praveen Khandelwal, stated on Friday, May 16, that “Traders from over 24 states have resolved to boycott trade with Turkey and Azerbaijan.”

According to data, trade with Turkey has decreased by 63% from FY 22–23 levels.

The $5.2 billion in exports that India made to Turkiye between April and February of FY 24–25 was barely around 1.5% of its $437 billion in total exports. The $2.84 billion in imports from Turkey that India made over that time period made up just 0.5% of the $720 billion in imports that India made overall.

Similarly, just 0.02% of India’s total merchandise exports to Azerbaijan in FY 2024–25 came from exports totalling $86.07 million from April to February. Azerbaijan’s $1.93 million worth of imports over the same time period made up an even smaller portion of India’s merchandise imports, at 0.0002%.

With a positive trade balance of $5,400.85 million in FY 22-23 to $2,721.9 million in FY 24-25, India’s total merchandise trade with Turkey has shrunk by about 63% from FY 22-23 levels.

Compared to FY 22–23, India’s total merchandise trade with Azerbaijan shrank by 16% in FY 24–25.  In FY 22–23, India’s merchandise trade with Azerbaijan saw a $396.62 million deficit; however, in FY 24–25, the trade balance turned positive at $91.75 million.

According to statistics, during the past two fiscal years, India’s merchandise trade surplus has decreased with Turkiye while its trade balance has improved with Azerbaijan.

Both nations recently denounced India’s actions against terrorist groups in Pakistan and Pakistan-occupied Kashmir (PoK), while Pakistan employed Turkish drones to violate Indian airspace.

Despite the fact that India’s imports from Turkey and Azerbaijan already make up a very small portion of its total trade, there have been rumours of Indian traders boycotting Turkiye’s marble and apples.

Turkey and India already have a Joint Commission on Economic and Technical Cooperation.

India mainly imports mineral oil (worth $1.81 billion in FY 23-24), gold, marble blocks and slabs, apples, vegetables, lime and cement, auto parts, electrical machinery, organic chemicals, pharmaceuticals, plastic, iron and steel, rubber, cotton, man-made fibers, and filaments from Turkiye, and exports mineral fuels and oil (worth $960 million in FY 23-24) to Turkiye.

In addition to importing raw hides, skins, and leather, organic chemicals, animal feed, essential oils, and perfumes, India was the third-largest buyer of crude oil from Azerbaijan in 2023. Tea, coffee, products, cereals, chemicals, plastic, rubber, paper, and ceramics are among the goods that India sells to Azerbaijan.

Earlier, the Confederation of All India Traders (CAIT), which represents Indian traders all over the country, called on people to avoid visiting Turkey and Azerbaijan because of their backing for Pakistan in the midst of the ongoing conflict. CAIT announced on Friday that they had also asked the film industry to avoid filming in Turkiye.

As Indian ire over Ankara’s position on Pakistan develops, “boycott Turkey” has also been a recurring trend on the internet.

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