Turkey has selected India as a strategic partner to accelerate the growth of the country, said Mr. Alpaslan Korkmaz, President and CEO, Investment Support and Promotion Agency of the Republic (ISPAT) at a meeting organised by the Confederation of Indian Industry (CII) and Society of Indian Automobile Manufacturers (SIAM) here on Wednesday. The meeting focused on Turkey as a new growth centre for Indian and Global Corporations.
Turkey is enhancing the role of private sector in the economy by opening the key markets to competition and regulation by independent agencies, said Mr. Korkmaz.
He said that Indian investors have lot of opportunities in Turkey as the government of the country has initiated structured reforms in public sector, social security, financial sector and tax structures.
Improved investment environment and accelerated privatisation in Turkey will provide Indian companies an access to the EU, Central and Eastern Asian markets, he added.
He said that growing domestic market, institutionalised economy, qualified and cost effective labour are favourable to Indian companies to invest in infrastructure development and manufacturing.
Mr. Korkmaz said that Turkish government has created special investment zones where the companies can get 100% exemption from custom duties and other assorted duties. He added that government will also provide100% exemption from corporate tax for the producer companies and100% exemption from the value added tax (VAT) and special consumption taxes.
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