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Indian entities committed FDI worth $6 million in Azerbaijan & Turkiye in April

15 May 2025 Evaluate

The Reserve Bank of India in its latest data has said that four Indian entities committed foreign direct investments worth nearly $6 million in Azerbaijan and Turkiye, accounting for a small part of the total $6.8 billion overseas investments proposed by Indian companies in April.

Against the backdrop of Turkiye and Azerbaijan condemning India's recent strikes on terror camps in Pakistan, New Delhi's trade relations with Ankara and Baku might come under strain. There are calls for a boycott of Turkish goods and tourism from certain quarters. The Indian Chamber of Commerce (ICC) supported the boycott calls.

Subhash Goyal, Chairman, Tourism Committee, ICC, said ‘Several tourism associations and industry bodies have issued statements of solidarity and collective commitment towards prioritising our national interest over commercial goals. The Indian Chamber of Commerce joins these organisations in demanding a boycott of states like Turkiye and Azerbaijan, following their stand against India's response to terrorism.’

As one of India's oldest chambers of commerce, Goyal said ICC remains committed to promoting ethical, responsible, and respectful business and tourism practices while upholding the values of integrity, security, and unity of country.


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