India Thailand Trade
According to the Tourism Authority of Thailand, Indians became the largest group of tourists to Thailand, with more than 100,000 arrivals as of May, 2022.
Introduction
India–Thailand relations are anchored in strong historical, cultural and economic ties, reinforced by a Strategic Partnership. Guided by India’s Act East Policy and Thailand’s Act West approach, cooperation spans trade, investment, connectivity, tourism and regional security, with ASEAN centrality and Indo-Pacific collaboration shaping a forward-looking bilateral partnership between India and Thailand.
India and Thailand, located in each other’s extended neighbourhood, share a maritime boundary in the Andaman Sea. India’s bilateral relations with Thailand are rooted in history, age-old social and cultural interactions and extensive people-to-people contact. In the past two decades, with regular political exchanges, growing trade and investment, India’s ties with Thailand have now evolved into a comprehensive partnership.
India-Thailand Trade
- Thailand occupies the 27th position in foreign direct investment (FDI) equity inflows into India with a cumulative FDI amount of US$ 1.67 billion from April 2000 to March 2026.
- Thailand ranks 26th among India’s export destinations and 14th among India’s import sources as of FY26.
- In FY26, bilateral trade between India and Thailand reached US$ 21.47 billion.
Major exports from India to Thailand
- India’s exports to Thailand stood at around US$ 5.05 billion in FY26.
- India exported 5,014 commodities to Thailand in FY26.
- Major items exported by India to Thailand included nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (US$ 811.96 million), followed by natural or cultured pearls, precious and semi-precious stones, precious metals and articles thereof (US$ 684.47 million), fish and crustaceans, molluscs and other aquatic invertebrates (US$ 356.95 million), vehicles other than railway or tramway rolling stock and parts (US$ 306.77 million), organic chemicals (US$ 258.19 million), electrical machinery and equipment and parts (US$ 245.49 million), aluminium and articles thereof (US$ 206.39 million), pharmaceutical products (US$ 192.64 million), iron and steel (US$ 138.58 million), zinc and articles thereof (US$ 130.94 million), coffee, tea and spices (US$ 128.07 million), articles of iron or steel (US$ 108.30 million), and miscellaneous chemical products (US$ 104.53 million) during FY26.
Major imports by India from Thailand
- India’s imports from Thailand stood at US$ 16.42 billion in FY26.
- India imported 3,471 commodities from Thailand in FY26.
- Major items imported by India from Thailand included natural or cultured pearls, precious and semi-precious stones, precious metals and articles thereof (US$ 4.37 billion), followed by nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (US$ 2.00 billion), electrical machinery and equipment and parts (US$ 1.85 billion), plastic and articles thereof (US$ 1.49 billion), animal or vegetable fats and oils (US$ 1.48 billion), organic chemicals (US$ 924.29 million), rubber and articles thereof (US$ 567.38 million), vehicles other than railway or tramway rolling stock and parts (US$ 441.33 million), aluminium and articles thereof (US$ 390.93 million), miscellaneous chemical products (US$ 297.54 million), articles of iron or steel (US$ 247.31 million), copper and articles thereof (US$ 231.78 million), optical, photographic, medical and precision instruments (US$ 228.29 million), and iron and steel (US$ 220.37 million) during FY26.
Economic Relations and Investments
India and Thailand share a long-standing and evolving bilateral relationship, underpinned by deep historical, cultural and economic linkages. The relationship entered a new phase in April 2025 with the elevation of bilateral ties to a Strategic Partnership, reflecting the growing convergence of interests across political, economic, connectivity and security domains. The partnership builds on over seven decades of diplomatic engagement and aligns closely with India’s Act East Policy and Thailand’s Act West approach, which together provide a strong framework for enhancing trade, investment and regional integration. Both countries reaffirm their shared commitment to a free, open, inclusive and resilient Indo-Pacific, with strong support for ASEAN centrality.
Economic cooperation remains a central pillar of India–Thailand relations. Bilateral trade stood at approximately US$ 15–17 billion in FY24, positioning Thailand as one of India’s key trading partners in the ASEAN region. Recognising the untapped potential, both sides have set an ambitious target of increasing bilateral trade to US$ 35 billion by FY27, supported by efforts to improve market access, reduce trade barriers and strengthen supply-chain linkages. Cooperation is expanding in future-oriented sectors such as renewable energy, electric vehicles, digital technology, robotics, biotechnology and advanced manufacturing. India continues to promote investment opportunities under the Make in India initiative, while Thailand’s Ignite Thailand vision encourages greater Indian participation across manufacturing, services and technology ecosystems.
Connectivity plays a critical role in advancing economic integration, with both countries emphasising the importance of physical, maritime and digital linkages. Projects such as the India-Myanmar-Thailand Trilateral Highway are expected to enhance trade flows and reduce logistics costs, while discussions on port-to-port connectivity and coastal shipping aim to deepen regional value chains. Tourism and people-to-people ties further reinforce economic engagement, with Thailand welcoming over one million Indian tourists by mid-2025, driven by improved air connectivity and visa facilitation measures. Going forward, India and Thailand aim to accelerate trade facilitation measures, review the ASEAN-India Trade in Goods Agreement, and mobilise greater private-sector investment to strengthen a comprehensive and future-ready economic partnership.
Recent Trends & developments
- On June 16, 2026, India and Thailand held the 10th Defence Dialogue in Bangkok and agreed to deepen cooperation in defence manufacturing, research, innovation, capability development, and maritime security. Both sides also reaffirmed their commitment to strengthening bilateral defence ties and promoting peace, stability, and prosperity in the Indo-Pacific region.
- On July 30, 2025, IILM University (Gurugram) partnered with Dusit Thani College, Thailand to launch a Global Hospitality and Services Management Programme in India, introducing a global-standard curriculum and expanding educational cooperation between India and Thailand.
- On April 4, 2025, the two countries signed five cooperation agreements covering tourism, education and technology sectors, and agreed to enhance collaboration against human trafficking, while also expanding cooperation in renewable energy, digital technology, e-vehicles, robotics and FinTech as part of strengthened strategic ties.
- On April 3, 2025, Prime Minister Mr. Narendra Modi and Thailand Prime Minister Ms. Paetongtarn Shinawatra upgraded ties to a strategic partnership at the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit, emphasising “development-ism, not expansionism” and cooperation in trade, tourism, and regional security.
- The Indian and Thai armies conducted the 13th edition of the joint military exercise MAITREE from July 1-15, 2024, in Thailand. The exercise aims to enhance military cooperation and joint capabilities in counterinsurgency and counter-terrorism operations.
- The National Institute of Ayurveda, Jaipur and the Department of Thai Traditional and Alternative Medicine, Thailand, have signed an MoU to establish academic collaboration in Ayurveda and Thai Traditional Medicine. The partnership aims to promote research, training, and the exchange of expertise, information, and best practices in traditional medicine.
- The strategic location of Thailand in the heart of South-East Asia, bordering the Andaman Sea makes it an important partner of India and is the gateway to the ASEAN, as the region has integrated into the ASEAN Economic Community (AEC). In the ASEAN region, Thailand ranks as India’s 5th largest trading partner after Singapore, Indonesia, Malaysia, and Vietnam.
- Prime Minister Mr. Narendra Modi held a telephonic conversation with Prime Minister Gen. Prayut Chan-o-cha on 1 May 2020, a few months into the COVID-19 pandemic outbreak. The two leaders exchanged views on effectively dealing with the COVID-19 pandemic and agreed upon collaboration for Research and Development in the field of medical sciences and vaccine development. In August 2022, the two sides signed an MoU in this regard.
- Ambassadors of India, Australia, Japan & US in Thailand jointly presented 200,000 doses of Made in India Covovax vaccines to Thailand under the Quad Vaccine Partnership on April 21, 2022.
- The 6th round of Foreign Office Consultations between India and Thailand, co-Chaired by Secretary (East), Mr. Saurabh Kumar and Thai Permanent Secretary for Foreign Affairs, Mr. Thani Thongphakdi, were held on April 21, 2022, in New Delhi. Both sides discussed bilateral, regional & global issues including post-COVID-19 recovery.
- Dr. Rajkumar Ranjan Singh, Minister of State for External Affairs and Education visited Thailand from July 29-31, 2022, to attend the 2nd edition of the North-East India Festival. Both sides discussed wide-ranging issues of mutual interest, including cooperation in political, commercial, defence, security, cultural and education matters, as well as the commemorative activities being organized by both sides to celebrate the 75th anniversary of the establishment of diplomatic relations.
- The 9th round of JCM was held in Bangkok, Thailand on August 16-17, 2022. External Affairs Minister of India (EAM) and Deputy Prime Minister of Thailand (DPM/FM) Mr. Don Pramudwinai co-chaired the JCM on August 17. The entire gamut of bilateral relations was reviewed during these meetings and two MoUs, namely, (i) MoU on Health and Medical Research Cooperation between the Indian Council of Medical Research (ICMR), India and the Department of Medical Sciences (DMS), Thailand; and (ii) MoU for Cooperation & Collaboration on Broadcasting between Prasar Bharti, India and Thai Public Broadcasting Service of Thailand were signed.
Conclusion
India and Thailand’s bilateral partnership has deepened significantly, marked by the elevation to a Strategic Partnership in April 2025 and ongoing cooperation across trade, investment, technology, tourism, security and regional connectivity. Both nations continue to reinforce ties to promote peace, prosperity and stability in South and Southeast Asia, aligning closely on ASEAN centrality and Indo-Pacific cooperation.
Thailand views India as the gateway to South Asia and beyond. As a result of the reduced tariff rates and new initiatives adopted by both countries, trade between the two countries increased manifold in recent years.
Contacts
- Embassy of India, Thailand
Address: 46, Prasarnmitr, Sukhumvit, Soi 23, Bangkok - 10110
Telephone Number: 02-2580300-6
Officials
Mr. Puneet Agrawal - Ambassador and PR to UNESCAP
Email: amboff.bangkok@mea.gov.in
Ms. Paulomi Tripathi - Deputy Chief of Mission and Deputy PR to UNESCAP;
Email: dcm.bangkok@mea.gov.in - Embassy of Thailand, India
Address: 56-N Nyaya Marg, Chanakyapuri, New Delhi 110021
Telephone Number: +91-11-24197200
Email: thaiembassy.del@mfa.go.th, consular.del@mfa.go.th
Officials
H.E. Ms. Chavanart Thangsumphant - Ambassador
Mr. Kiran Moongtin - Minister/ Deputy Chief of Mission
FAQs
India exports to Thailand are led by machinery and mechanical appliances (US$ 811.96 million), followed by gems and jewellery, marine products, automobiles and auto components, organic chemicals, electrical machinery, pharmaceuticals, and metals. These sectors form the core of India Thailand trade and reflect India's diversified manufacturing capabilities.
India Thailand trade has expanded steadily, supported by stronger economic cooperation and the elevation of bilateral ties to a Strategic Partnership in 2025. Bilateral trade between India and Thailand reached US$ 21.47 billion in FY26, with both countries targeting US$ 35 billion by FY27.
The India Thailand economic partnership is being driven by engineering, automotive, electronics, renewable energy, digital technology, biotechnology, robotics, tourism, and advanced manufacturing. These sectors are benefiting from growing industrial collaboration and closer regional integration.
Thailand serves as a strategic gateway to the ASEAN market, creating significant trade opportunities between India and Thailand. Expanding connectivity, rising manufacturing demand, and stronger regional value chains offer Indian exporters opportunities across industrial goods, pharmaceuticals, food products, and engineering solutions.
Strong Thailand imports from India include industrial machinery, gems and jewellery, marine products, automotive products, chemicals, pharmaceuticals, electrical equipment, and speciality metals. Much of this demand is linked to Thailand's export-oriented manufacturing and processing industries.
India Thailand trade relations are strengthened through the Strategic Partnership, BIMSTEC, ASEAN cooperation, and regular government-to-government engagements. Recent agreements covering tourism, education, digital technology, renewable energy, fintech, and electric vehicles are creating new business and investment opportunities.
Future trade opportunities between India and Thailand are expected in electric vehicles, renewable energy, digital technologies, robotics, biotechnology, fintech, healthcare, and advanced manufacturing. These high-growth sectors are emerging as key pillars of future bilateral cooperation.
The growth of India Thailand trade is being driven by stronger regional connectivity, the India-Myanmar-Thailand Trilateral Highway, expanding supply chains, the Strategic Partnership, and closer collaboration under India's Act East Policy and Thailand's Act West approach.
Indian businesses can strengthen India exports to Thailand by leveraging Thailand's position as an ASEAN manufacturing hub, participating in regional supply chains, and targeting sectors such as engineering, mobility, healthcare, food processing, and digital technologies. Improved logistics connectivity is expected to further support export growth.
Emerging export opportunities include EV components, renewable energy equipment, robotics, biotechnology products, medical technologies, smart manufacturing solutions, and digital services. These sectors are expected to further strengthen the India Thailand economic partnership as both countries deepen cooperation in innovation-led industries.
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