BREAKING: Turkey likely to lose billions of dollars because of Erdogan’s speech in favour of Pakistan against India

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BREAKING: Turkey likely to lose billions of dollars because of Erdogan’s speech in favour of Pakistan against India

ANKARA - Turkey likely to lose billions of dollars because of Erdogan’s speech in favour of Pakistan against India.

Turkey's 45,00-ton fleet support ships (FSS) deal for the Indian Navy, estimated to cost $2.3 billion, is expected to be put on hold after President Recep Tayyip Erdoğan's remarks on Kashmir conflict at UN meeting, Indian Financial Express reported link Thursday.

“It could be a fall out of Turkey cosying up to Pakistan and raising Kashmir issue at the recently concluded 74th United Nations General Assembly (UNGA),” Financial Express quoted an anonymous Indian officer as saying.

"Though no contract has been inked yet as the analysis of the technical and financial assessment is going on, the Turkish shipyard as part of negotiations is expected to provide ship design, supply key machinery equipment (KME) and provide technical assistance," the website said.

During the 74th United Nations General Assembly, Erdoğan made a pro-Pakistan speech on the Kashmir row between India and Pakistan, as India has deployed thousands of troops after introducing a parliamentary bill to revoke its special status.

A decades-long insurgency in the Indian-controlled part of Kashmir, which is claimed in full by both countries, has claimed tens of thousands of lives.

Following Erdoğan's speech, India’s Prime Minister Narendra Modi held two separate meetings with two neighbours of Turkey, Greek Cypriots and Armenia, that have had long-standing issues with the country.