Indian traders are considering suspending all trade relations with Turkey and Azerbaijan in protest against their support for Pakistan during the recent India-Pakistan military standoff following the Pahalgam terror attack. The Confederation of All India Traders (CAIT) announced on Wednesday that the final decision would be made at a conference on Thursday, stating that Indian traders must demonstrate patriotism and refrain from doing business with nations seen as opposing India.
Earlier this month, India imposed a complete ban on imports and transit of goods from Pakistan after 26 civilians were killed in the April 22 Pahalgam terror attack.
CAIT Secretary General Praveen Khandelwal shared that India’s exports to Turkey between April 2024 and February 2025 amounted to $5.2 billion, a decline from $6.65 billion in 2023–24. These figures accounted for roughly 1.5% of India’s total exports of $437 billion. Imports from Turkey stood at $2.84 billion, about 0.5% of the total $720 billion imports, down from $3.78 billion in the previous fiscal year.
India’s trade with Azerbaijan was comparatively minimal. Exports reached $86.07 million, down slightly from $89.67 million in 2023–24, making up just 0.02% of India’s total exports. Imports from Azerbaijan rose to $1.93 million from $0.74 million in the previous year.
Khandelwal warned that a trade boycott could result in significant financial losses for Turkey, particularly affecting key sectors such as stone and mining, furniture, textiles, and food processing. “Trade with India is beneficial to both countries, but a collective boycott by Indian traders and industrialists will send a strong financial message,” he stated.
India’s main exports to Turkey include refined petroleum, motor vehicles and parts, steel, chemicals, pharmaceuticals, precious stones, and textiles. In return, India imports crude petroleum, machinery, marble, gold, fruits, plastics, and textiles. Exports to Azerbaijan include tobacco, electronics, machinery, pharmaceuticals, ceramic products, and grains, while imports consist of mineral oils, chemicals, raw hides, aluminium, and cotton.
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