Economic Relations and Investments
Since 1947, India has enjoyed dynamic bilateral relations with Thailand. 2022 marks the 75th year of diplomatic ties between the two nations. Quite interestingly, India’s ‘Act East’ and Thailand’s ‘Look West’ policy have provided the outline for enhancing mutual diplomatic as well as economic collaboration in a positive direction. Major Indian companies in Thailand include – Tata Steel Thailand, Tata Consultancy Services, Aditya Birla Group, Tech Mahindra, Kirloskar Brothers Ltd., etc. Leading Thai companies in the fields of agro-processing, construction, automotive, engineering and banking have an active and growing business presence in India.
Commerce, culture and connectivity are often cited as the three main pillars of India-Thailand relations. Maritime trade between the two countries has existed since 1500 BCE, paving the way for people-to-people contact and cultural interaction between the two states bordering the Bay of Bengal.
Thailand is the fourth largest trading destination for India in the ASEAN region. The Indian market remains attractive to Thai investors. Commerce, Culture and Connectivity define the future focus areas of cooperation between India and Thailand.
India provides huge opportunities for investment in infrastructure, including roads, ports, the power sector, food processing, renewable energy, digital technology, logistics and electric vehicles. India’s Act East policy complemented by Thailand’s Act West policy has provided the basis for building a multi-faceted partnership between the two countries. Northeast India is the gateway to Thailand and other South-East Asian countries.