Indo-Thai trade may jump to $10 bn by 2010

KOLKATA: Indo-Thai trade should jump from $6 billion to $10 billion by 2010. And, trade between India and the Asean countries is poised to climb from around $48 billion to $60 billion in this span. There is also tremendous scope for growth in tourism betweem India and Thailand. There are half a million Indians visiting Thailand yearly, but only 60,000 from Thailand arriving in India annually. Even here, there is ample room for expansion from both ends.

This was the call that Mr Kiat Sittheeamorn, president of Thailand Trade Representative (TTR), took at a meet in Kolkata on Monday. TTR enjoys the rank of deputy prime minister. The interactive session with the media was fielded by the Confederation of Indian Industry, eastern region and The Royal Thai Consulate General. "Thailand is looking at setting up trade cooperation with India in pharmaceuticals, infrastructure, hospitality, real estate and logistics," Mr Sittheeamorn said.

His visit will pave the way for a series of roadshows that will be led by Prime Minister Abhisit Vejjajiva in November and by deputy prime minister Korbasak Sapawasu in October. "These series of high level visits reaffirm the importance Thailand attaches to India. Dialogues at the high levels will lead to concrete outcomes for the benefits of the two countries and the betterment of the peoples," he said.

He added that Thai investment in India is pegged at $831.2 million, while India���s investment into Thailand amounted to $282.11 in projects. Earlier, Mr Kurush Grant, deputy chairman, CII eastern region, said, "India���s drive for building infrastructure affords an excellent opportunity to Thai businesses. India���s total infrastructural investment for the next five years is pegged at $500 billion, across sectors such as airports and highways, power and energy, water supply and irrigation etc.

Thai companies can identify their sectors of expertise within the Indian context and bid for projects in areas such as aviation and airport management, canals and irrigation, townships and urban infrastructure, transport and the like."