The bi-lateral trade between India and Thailand is expected to touch 11,000 million US dollar during the current financial year ending December 2018, announced Ekapol Poolpipat, Consul General, Royal Thai Consulate-General Mumbai. The bi-lateral trade during the year ended December 2017 was around 10,000 million US dollar. Delivering a key note address at the inauguration of 3-day Thailand Week 2018 at Bombay Exhibition Centre, Goregoan, Poolpipat said the bi-lateral trade between the two countries during the first four months-January to April 2018 have gone up considerably and touched 857 Million US dollar against 720 Million US dollar during the corresponding period of the previous year.
Earlier, famous and leading film actress, Divya Dutta, inaugurated the Thailand Week 2018 by lighting the lamp and cutting the ribbon. Inaugurating the trade show, Divya Dutta said Indian traders are very much interested in imports of Thailand products and services. However, India needs to improve infrastructural facilities including roads to facilitate the trade. Deepti Gupta, senior investment specialist, Department of Industrial Policy and promotion, ministry of commerce and industries, GoI talk about the rising trade opportunities between the India and Thiland. Around 10 million Indian work forces are joining every year and we see a momentum in manufacturing sector, Ms Gupta added. The Thailand based companies which are operating in India plans to invest additional US dollar 3 billion by 2020. The investment will be made into green and brown field projects including Energy, infrastructure and metals, said Suwimol Tilokruangchai, executive director and consul, Thai Trade Center, Mumbai.
“We are looking towards India with a great interest from last seven decades and plans to enhance the bi-lateral trades thanks to the positive approach of both the Thai and Indian governments. The Thailand based companies see a big potential in Indian energy, metals as well as infrastructural facilities, she added. Around 60 leading Thai companies were offering a wide range of products and technologies and it includes sectors like construction, automobile and car accessories, beauty and health care products, pet care products, food and food processing, household products and lifestyle products, he added.
The imports from Thailand includes top items like Machinery, Electrical machinery, plastic, organic chemicals, vehicles, rubber, copper, Iron/steel products, chemical products (misc) and Iron and steel. Similarly Indian exports includes Precious stones/metals, machinery, Iron and Steel, Fish and seafood, organic chemicals, spices, coffee and tea,electrical machinery, iron/steel products, and cotton yarn, fabricsetc.