TIM Sets Its Final Route of the Year for India

Turkish Exporters Assembly (TİM), with the support of Coface, organized the "Export Compass" series of events aimed at increasing both the number of trading countries and exporters. The series addressed the Indian market. Following South Korea, Ghana, Russia, Qatar, Morocco, Indonesia, Singapore and Japan, the ninth event, titled "Route: India," provided exporters with information on the risks and opportunities of the Indian market and methods of market entry, while success stories from firms operating in the market were shared with participants. The meeting, opened by TİM Vice Chair Tahsin Öztiryaki, was attended by India's Consul General in Istanbul Azar A.H. Khan and numerous exporter representatives.

"Exporters should know foreign markets well"

TİM Vice Chair Tahsin Öztiryaki said in his opening remarks: "With a population of 1.3 billion, India is the world's second most populous country. It is the world's seventh largest economy and has grown at an average rate of 7 percent over the last 20 years. According to purchasing power parity, it ranks third globally. It is a member of the G20, which conducts 80 percent of world trade. It is also an important trade hub in its own region. Both the perception of Turkey in India and the perception of India in our country are very strong. India, through its location and dynamic young population, holds many opportunities. There are no barriers to increasing our mutual trade. As exporters, we need to know our foreign markets well."

"We provide companies with fair competition in India"

India's Consul General in Istanbul Azar A.H. Khan also said: "The partnerships you establish and the trade you conduct with firms in India can help you sustain trade with India. This way, you can both increase your trade sustainably and benefit from this country's dynamic population. In India, we place importance on providing companies with fair competition. This makes India an attractive market for foreign firms."

Many topics covered from shipping to insurance

At the India Market Analysis panel of the meeting, success stories targeting the Indian market, how Turkish exporters can reach Indian firms, and various issues such as shipping, customs clearance and insurance were discussed. The panel was moderated by TİM Deputy Secretary General Erkan Kaplan. The speakers at the panel evaluated the Indian market as follows:

Tuğrul Somuncuoğlu - Representative, Export General Directorate, Ministry of Economy:

"There are more firms from neighboring countries that operate and do business in India, and we need to have more presence there as well. In most parts of India, you can easily speak English. On the other hand, there are over 50 million firms in India. Regarding firm reliability, you can email the firms you will trade with to our Commercial Counsellors or query firm officials from the Ministry website."

Emre Özer - Coface Board Member and General Manager:

"80 percent of firms worldwide experience collection problems at least once. 25 percent of firms go bankrupt due to collection problems. In addition to credit insurance policies, we provide our firms with secure trading opportunities in the Indian market, as well as services such as risk prevention, collection, credit information, and detailed commercial reports."

Göksel Perksoy - Hürsan A.Ş

"We entered India thanks to traders we met at fairs, and when we got there, we encountered very different cultures. Before entering, we thought about the risks there. You might see direct trade with India as risky. There is a lot of bureaucracy, but human factors are also significant. Once you find the right person, problems can be solved very quickly."

Ahmet Gülek - Makrev Machine Engineering

"We attended our first fair in 2014 and got no results, same the following year. In 2015, we went with our technical team and did market research by visiting markets. In 2016 we sold two machines, and in 2017 we sold 60 percent of our products to this country. If you can analyze the market correctly, it will be easier for you to establish a presence in this large market."