Monday, August 1, 2016
India & Thailand B-Lateral Trade Projected at 1,600 Million by 2020
By Manu Sharma
The bi-lateral trade between India and Thailand presently amounts to US $800 million and projected to double to US $1.600 million over the next five years. In order to achieve this number, the Mumbai based Thailand Trade Center, under the Department of International Trade Promotion, Ministry of Commerce, Thailand is currently organizing the Thailand Week 2016 in three cities in India and last held in Bengaluru from June 29-31, 2016 at the Lalit Ashok.
The three-day expo features wide range of Thai products including food and beverages; garments; textiles and fashion accessories; health and beauty; home décor; household products among others.
India with a population of over 1.2 billion, has a very large and productive workforce essential for a growing nation. As India emerges into an economic super power over the next few years, it’s vital to expand its trade relations with all nations including neighboring Asean countries like Thailand.
Every year, Thailand Trade Center holds expo and fairs across the country with the hope of building better bi-lateral trade relations with the two nations. Speaking to the media, Suwimol Tilokruangchai, Exclusive Director and Consul (Commercial), Thai Trade Center, Mumbai says, “This is an annual event and this year have 40 exhibitors displaying their products for the first time in the country. We were earlier this month in Chandigarh and the exhibitors have closed deals with several distributors in north India. This week are in Bangalore followed by Chennai later next month and hoping for similar response from the south.”
She adds that expo’s like this helps in growth of our bi-lateral trade between the two countries and are expecting a 20 percent growth this year as well.