These Indian companies are making big money in Pakistan's ally Turkey, list includes...

The political tensions between India and Turkey following Operation Sindoor have led to calls for a boycott of Turkish products and companies recently. The Indian government has even taken steps against some Turkish firms. However, Indian companies operating in Turkey say that their business remains unaffected by the ongoing diplomatic strain. According to a report by Business Standard, Indian companies like Redington, Mahindra & Mahindra, Solar Industries, Jubilant FoodWorks, UPL, and HCL Technologies have no plans to change their operations in Turkey.

Jubilant FoodWorks, which operates Domino’s Pizza and a coffee chain in Turkey, said it will continue its expansion. The company already runs 746 Domino’s outlets and 160 coffee stores across Turkey and plans to open 30 more Domino’s outlets and 50 new coffee shops.

Redington reported the highest sales among Indian firms in Turkey, recording a turnover of Rs 4,372.37 crore in 2023-24. Similarly, Mahindra & Mahindra, which runs a tractor manufacturing unit in Turkey, earned Rs 1,420.78 crore in the same period.

Dabur India, which acquired a local company in Turkey back in 2010, said it neither imports from India nor exports to it. Tata Group’s Voltas also has a joint venture in Turkey and claimed that their business has not been affected by geopolitical tensions.

Other Indian firms also saw significant sales in Turkey in 2023-24:

* Solar Industries: Rs 753.28 crore
* UPL: Rs 469 crore
* HCL Technologies: Rs 31.73 crore

While Indian companies are doing well in Turkey, Turkish companies in India are facing problems. The Indian government recently reduced the lease term of a Turkish aircraft working with IndiGo from six months to three. In May, the security clearance of Turkey’s Celebi Aviation Holding, which handled ground services at multiple airports, was revoked.

Despite rising tensions between the two countries, Indian businesses in Turkey remain confident and focused on growth.