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Thailand promotes economic cooperation with India

Thailand and India share closely connected regional production bases and supply chains. Last year, bilateral trade reached about 16.5 billion USD, a 15% increase over the past three years.

Thai Minister of Commerce Suphajee Suthumpun is advancing Thailand–India economic cooperation during a visit to Mumbai (Photo: NNT)
Thai Minister of Commerce Suphajee Suthumpun is advancing Thailand–India economic cooperation during a visit to Mumbai (Photo: NNT)

Bangkok (NNT/VNA) – Thai Minister of Commerce Suphajee Suthumpun is advancing Thailand–India economic cooperation during a visit to Mumbai, focusing on expanding trade, investment, and industrial linkages between the two countries.

Thailand and India share closely connected regional production bases and supply chains. Last year, bilateral trade reached about 16.5 billion USD, a 15% increase over the past three years.

Thailand remains one of India’s top five sources of intermediate goods, particularly natural rubber, palm oil, food ingredients, and pet food.

The two sides are also exploring future-oriented industries, including semiconductors, technology, creative industries, pet food, and medical services.

During the visit, Suphajee Suthumpun led 17 Thai entrepreneurs in environmentally friendly construction and decorative materials to engage in business matching with Indian private-sector partners. Efforts are underway to advance mutual recognition agreements for green product standards.

Discussions were held with TATA Group executives to integrate Thai businesses into India’s green construction and real estate supply chains, explore joint production investments in Thailand, and expand Thai lifestyle products in the Indian market.

India views Thai lifestyle products as premium and luxury offerings, with selected Thai brands expected to be marketed through the TATA CLiQ platform. The selection process is ongoing, especially for Thai jewellery brands with a strong identity, to generate advance orders and expand trade opportunities.

The minister also met with Thai private-sector investors operating in India, including Thai Oil, GPSC, SCG, CPF, CP, and Shera. Key challenges discussed included product certification requirements under the Bureau of Indian Standards. The Ministry of Commerce will coordinate with Indian agencies to facilitate smoother production and trade connectivity./.

VNA
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