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<ul><li>The spokesperson for India's Ministry of External Affairs had a sharp critcism for Turkish President Recep Tayyip Erdoğan's comments on Kashmir inside Pakistan's Parliament.</li><li>Erdogan said he would return Pakistan's favour of helping Turkey during its fight for independence that he likened to the situation in Kashmir.</li><li>There is a lot at stake in terms of trade for India. Turkey is one of the few countries to which India exports more than it imports.</li></ul>Indian government may insist all is well in Kashmir but at the same time, the issue is turning out a diplomatic headache for the Narendra Modi government in New Delhi. Turkish President Recep Tayyip Erdoğan's comments inside Pakistan's Parliament has led to a sharp rebuke from India's Ministry of External Affairs saying Erdogan has shown he neither understands history nor the conduct of diplomacy. Aside from diplomatic ties between the two countries, what is also at stake in the standoff is exports worth over $4 billion a year. The war of words may threaten trade ties between the two countries that got a big boost after Erdogan's visit in May 2017. Indian exports turkey have risen from a little over $650 million in 2015 to over $4.3 billion in the first nine months of 2019, <a href="http://www.mfa.gov.tr/turkey_s-commercial-and-economic-relations-with-india.en.mfa" data-type="tilCustomLink" target="_blank">according to official data</a> from Istanbul. Some of the key stakeholders who will be hurt by the freezing of trade or investment, if at all, include oil products exporter Reliance Industries, owned Asia's richest man Mukesh Ambani, the Tata Group, and the Mahindra Group to name a few. 
 
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 Erdogan had earlier criticised India at the United Nations General Assembly in September 2019. Turkey was one of the four countries taking Indian on, Pakistan, China, and Malaysia were the other three. Right after that speech, <a href="https://www.financialexpress.com/defence/unga-fallout-turkish-company-could-be-out-of-the-fss-project-for-indian-navy/1724697/" data-type="tilCustomLink" target="_blank">a $2.3 billion ship building contract</a> from the Indian Navy to a Turkish company, Anadolu Shipyard, was put on hold without any explanation. Turkish investments in India and vice versa Currently, contractors from Turkey have projects worth $430 million underway in India. These include "the Lucknow subway construction, the Mumbai subway construction, a railway tunnel construction in Jammu Kashmir and various housing projects.," the Turkish Ministry of Foreign Affairs said. For instance, Gulermak, one of Turkey's leading engineering and construction services company, has the contract for metro rail projects in Lucknow and Pune. The Pune contract has been given by a <a href="https://press.siemens.com/in/en/pressrelease/tata-siemens-consortium-wins-bid-pune-metro-project" data-type="tilCustomLink" target="_blank">Tata Group company, TRIL Urban Transport and Siemens</a>. There are 150 Indian companies employing 5,000 people in Turkey. About 40 of these companies are active in production, services and agriculture, according to data from the Embassy of India in Ankara, a September 2019 report said. Mahindra &amp; Mahindra acquired a Turkish tractor maker Erkunt Traktor Sanayii for an <a href="https://economictimes.indiatimes.com/mm-to-acquire-turkish-tractor-foundry-firms-for-rs-735-crore/articleshow/60763889.cms" data-type="tilCustomLink" target="_blank">enterprise value of $117 million (₹735 crore) in 2017</a>. Other Indian companies that have a thriving business in Turkey include Polyplex, GMR Infrastructure, TATA Motors, Reliance Industries, Jain Irrigation, Wipro and Dabur, <a href="https://www.eximbankindia.in/Assets/Dynamic/PDF/Publication-Resources/ResearchPapers/32file.pdf" data-type="tilCustomLink" target="_blank">according to a 2015 EXIM Bank report</a>. <table style="width: 155pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:107pt">Stock</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 48pt;">17-Feb</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Industries</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.61%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.53%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mahindra &amp; Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.29%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Polyplex</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.66%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">GMR Infra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.95%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Wipro</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.39%</td> </tr> <tr> <td class="xl67" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.87%</td> </tr></tbody></table> Turkish consumer appliances maker Arcelik has a manufacturing plant in Sanand, Gujarat, with Tata Group-owned air-conditioning giant Voltas. The two companies together have invested about₹700 crore so far and intend to triple it in the days to come, <a href="https://www.financialexpress.com/industry/voltas-beko-pumps-rs-1284-cr-into-white-goods-factory-eyes-top-slot-by-2025/1853166/" data-type="tilCustomLink" target="_blank">according to a report earlier this month</a>. Indian packaging material maker Polyplex has a <a href="https://www.polyplex.com/about-us/global-presence/polyplex-turkey" data-type="tilCustomLink" target="_blank">manufacturing plant in Corlu</a>, from where it supplies to markets in Europe. Other Turkish companies that have presence in India include Limak Construction, Fernas, Sarar, Soktas, Izopoli-Kingspan, and Hidromas. This is nowhere close to an exhaustive list. The standoff has been escalating since September Turkey was the first to rake up a issue that India hates discussing outside its borders. On Friday (February 14), President Erdogan said the suffering of the Kashmiri people had worsened in recent years due to the taking of "unilateral steps" inside the Pakistan Parliament. 
 
 <div type="image" title="Recep Tayyip Erdogan" msid="74174002" hostid="261" caption="&amp;lt;p&amp;gt;Turkey&amp;#39;s President Recep Tayyip Erdogan addresses the members of his ruling party at the parliament, in Ankara, Turkey, Wednesday, Feb. 5, 2020. Erdogan threatened to use force against Syrian government forces if they don&amp;#39;t pull back to an earlier cease-fire line in northern Syria by the end of the month. Erdogan&amp;#39;s remarks followed rare direct clashes Monday between Turkish and Syrian troops inside Syria, which killed several Turkish and Syrian personnel.Photo/Burhan Ozbilici)&amp;lt;/p&amp;gt;"></div>





 He was referring to the suspension of the Indian state's 'special status' and the infamous lockdown and internet shutdown that followed to keep things under control in the Kashmir valley. The response from India was equally sharp. "India has made a strong demarche with Turkish Govt on remarks made by President Erdogan on Indian Union Territory of Jammu&amp;Kashmir during his recent visit to Islamabad," Raveesh Kumar, the spokesperson for India's Ministry of External Affairs, said on February 17. 
	
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 India has always maintained that the strife in Kashmir is a matter between the government and its people and not a 'bilateral' border dispute with Kashmir. However, India and Pakistan have fought three wars in the last seven decades over the Kashmir issue. These comments will also set the context for <a href="https://www.businessinsider.in/politics/india/news/donald-trump-and-mike-pompeo-get-message-from-us-senators-for-narendra-modi/articleshow/74120952.cms" data-type="tilCustomLink" target="_blank">Donald Trump's visit to India</a>. The US President has repeatedly offered to mediate between India and Pakistan but India has resisted it. While it is not clear whether India's diplomacy will be offensive or defensive, business owners like the Tatas and Mahindras will remain anxious. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/9-mind-blowing-facts-that-show-just-how-wealthy-mukesh-ambani-the-richest-person-in-asia-really-is/articleshow/73671508.cms" data-type="tilCustomLink" target="_blank">9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is</a> <a href="https://www.businessinsider.in/business/news/tata-sons-chairman-n-chandrasekarans-vision-a-smart-economy-in-2030-does-not-have-white-shiny-robots-taking-away-jobs/articleshow/74100179.cms" data-type="tilCustomLink" target="_blank">Tata Sons Chairman N Chandrasekaran's vision of a smart economy in 2030 does not have white, shiny robots taking away jobs</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-launches-from-mahindra-in-india/articleshow/74170520.cms" data-type="tilCustomLink" target="_blank">Upcoming cars and SUV launches from the Mahindra Group in India</a>

From Mukesh Ambani to Tatas to Mahindra⁠— all those who must fear the escalating standoff between India and Turkey

India would get a loan of 450 million euros ($512 million) from the European Investment Bank, to finance the construction of Lucknow's first 23 km-long metro rail line and purchase new trains. 
 
The agreement about the loan was signed in Brussels on Wednesday, when PM Modi was there to take part in the 13th EU-India summit. 
 This is the largest Indian project financed by <keyword id="6355110" type="ORGANIZATION" weightage="100" keywordseo="European-Union">European Union</keyword>'s official bank, which also serves as the world's largest international public bank. EIB and India’s relations go back to more than 20 years ago. 
 The long-term loan is expected to cover half of the total project cost for the <keyword id="6386286" type="UNKNOWN" weightage="100" keywordseo="Lucknow-metro">Lucknow Metro</keyword> line, which is to be constructed as the first part of a broader metro network that has been planned for UP’s capital city. As of now, 10% people in Lucknow use public transport, which would be increased to an estimated 27% once the metro line becomes operational. 
 
Werner Hoyer, president of EIB, said that the bank would expand its support for long-term investments in India while unveiling plans to open a regional representation for South Asia in New Delhi by 2016 end. 
 
"The first metro line in Lucknow is a flagship project not only for Uttar Pradesh and India, but also for the bank's strengthened global commitment to support transformational investment," Hoyer said. 
 
<a href="http://7e18a1c646f5450b9d6d-a75424f262e53e74f9539145894f4378.r8.cf3.rackcdn.com/4f5c96ea-f695-11e5-ba7f-bc764e093073_61.07_thumb_169_1459356183_1459356182.jpg?http://7e18a1c646f5450b9d6d-a75424f262e53e74f9539145894f4378.r8.cf3.rackcdn.com/4f5c96ea-f695-11e5-ba7f-bc764e093073_61.07_thumb_169_1459356183_1459356182.jpg?targetTypeId=mobile">Image source</a>

Lucknow metro gets a European boost; EIB approves loan worth $512 million

Lucknow, Chief Minister <keyword id="19898780" type="General" weightage="20" keywordseo="yogi-adityanath" source="keywords">Yogi Adityanath</keyword> led government on Tuesday approved the proposal related to the formation of the <keyword id="20838561" type="General" weightage="20" keywordseo="uttar-pradesh-state-capital-region" source="keywords">Uttar Pradesh State Capital Region</keyword> on the lines of the <keyword id="19911752" type="General" weightage="20" keywordseo="ncr" source="keywords">NCR</keyword> and other regional development authorities. The ordinance in this regard seeks to advance development projects through collaboration and coordination among all authorities while ensuring the preservation of their respective entities. The primary aim is to foster planned development akin to the <keyword id="20838562" type="General" weightage="20" keywordseo="delhi-national-capital-region" source="keywords">Delhi National Capital Region</keyword> (NCR), an official release issued here said. Notably, recognising the necessity for organised growth within the state capital region particularly in the districts like Barabanki, <keyword id="20369682" type="General" weightage="20" keywordseo="rae-bareli" source="keywords">Rae Bareli</keyword>, Hardoi, Sitapur and Unnao, which neighbour Lucknow, there has been a long standing demand to curtail unplanned development, the release said. The state cabinet also gave its go ahead to the proposal of Phase-1B East-West Corridor of the Lucknow Metro. As part of this initiative, a metro line spanning 11.865 km from Charbagh to Vasant Kunj will be established. This decision aims to enhance transportation convenience in Lucknow. The project is estimated to cost around Rs 5,801 crore, with a targeted completion date set for June 30, 2027. The plan entails the construction of 12 stations, comprising five elevated and seven underground stations. The metro line will consist of 4.286 km elevated track and 6.879 km underground track. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a><a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank">BYD Seal electric sedan launched in India starting at ₹41 lakh</a>

UP govt approves proposal for formation of Uttar Pradesh State Capital Region on lines of NCR

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From Mukesh Ambani to Tatas to Mahindra⁠— all those who must fear the escalating standoff between India and Turkey

Sriram Iyer

Lucknow metro gets a European boost; EIB approves loan worth $512 million

BI India Bureau

UP govt approves proposal for formation of Uttar Pradesh State Capital Region on lines of NCR

PTI

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