Mains Paper 2: IR | Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
From UPSC perspective, the following things are important:
Prelims level: Source India Pavilion, Izmir International Trade Show
Mains level: India-Turkey Bilateral Relations
Izmir International Trade Show
- The Trade Promotion Council of India (TPCI) led a75-member Indian delegation for the ongoing 87th Izmir International Trade Show in Turkey.
- The delegation had several B2B meetings and business tie-ups with members of the Turkish business community.
Source India Pavilion
- India is the Focus Country in the trade show with a standalone pavilion named ‘Source India’.
- The India Pavilion is a multi-product pavilion, including companies displaying products like ceramics, cereals and mechanical appliances.
- These events serve the purpose of opening new areas for co-operation in trade and investment between India and the rest of the world.
India- Turkey Trade
- Bilateral trade between the two countries was $7 billion in 2017, an increase of 8% over the previous year.
- There is a huge potential for tie-ups between Indian and Turkish agriculture and food processing sectors.
- The collaborations may range from farming technology, high yielding varieties, farm machinery, food processing and cold storage.
Trade Promotion Council of India (TPCI)
- TPCI is an apex trade and investment promotion organization notified in the Foreign Trade Policy. TPCI is also recognized and supported by the Department of Commerce, Govt. of India.
- It provides policy suggestions which are essentially based on inputs collated from research and industry stakeholders.
- Aim: To accelerate India’s global trade through advanced research and trade promotion.
- Working: Creating global platform for the industry by organizing seminars, trade shows and business delegations through measures usch as-
- Advanced Trade Research:- Supporting India’s trade policy and economic diplomacy through research.
- Trade Promotion:- Exploring international trade opportunities in untapped markets and promoting new exporters.
- Trade Facilitation:- Identifying bottlenecks and bridging the gap between industry and authority by continuous interaction.
- Investment Promotion:- Exploring scope and facilitating investment in potential business and sectors.