Indian Ambassador Pushes for India-Thailand Trade and Investment
Business leaders and entrepreneurs from India and Thailand gathered in Bangkok on 27 August for the India-Thailand Business Conclave, aimed at exploring opportunities to deepen trade and investment ties between the two countries. The event, organised by the Embassy of India in Thailand, brought together representatives from both sides as India seeks to expand its […] The post Indian Ambassador…
On 27 August, business leaders from India and Thailand convened in Bangkok for the India-Thailand Business Conclave, with the objective of exploring avenues to enhance trade and investment ties between the two nations. The conference, organized by the Embassy of India in Thailand, brought together representatives from both countries as India aims to expand its economic involvement with Thailand under New Delhi’s "Act East" policy.
Embassy of India in Thailand's Ambassador Vinod Agrawal highlighted that bilateral trade between India and Thailand has expanded significantly over the past decade, now standing at 20-21 billion US dollars, with a trade surplus of 10-11 billion dollars favoring Thailand. Nonetheless, Agrawal emphasized that the relationship has yet to reach its full potential.
He noted that while Thailand is the second-largest economy in ASEAN, India remains only its fourth-largest trading partner, behind Singapore, Indonesia, and Malaysia. The ambassador pointed out that challenges like non-tariff barriers and insufficient information on regulatory ecosystems necessitate closer scrutiny.
Agrawal underscored the importance of strengthening business-to-business ties to bolster the broader economic and strategic partnership. He elaborated on the vision for deeper engagement, which includes facilitating trade, resolving market access issues, enhancing linkages to global value chains, and bolstering private sector confidence in both nations.
He stressed that Indian companies bring scale, technological expertise, and a deep talent pool, seeking Thailand as a gateway to ASEAN. Conversely, Thai businesses see India's vast domestic market as an enticing destination for expansion. Agrawal proposed that closer business-to-business exchanges, focusing on the unique capabilities and advantages offered by India's northeastern states, could prove immensely beneficial for both countries.
The ambassador also mentioned that Thailand sees India as a high-potential market, driven by a rapidly expanding middle class. Thailand's interest in accessing this growing consumer base, particularly in sectors such as food, petrochemicals, construction materials, and renewable energy, opens opportunities for complementary roles within the same regional value chains.
India's strengths in IT, pharmaceuticals, and manufacturing can complement Thailand's established industrial base. The vice chairman of the Federation of Thai Industries, Vichaow Rakphongphairoj, emphasized the importance of Thai businesses gaining access to India, describing it as one of the world's largest and dynamic markets.
He highlighted India's complementary strengths in innovation and start-ups, while Thailand excels in manufacturing, food, logistics, and regional supply chains.
Written by urgent.news from Khaosod English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
