Thailand-India trade to cross $4 bn
Bilateral trade between Thailand and India is poised to cross the $4 billion mark this year as both countries celebrate the 60th anniversary of diplomatic ties.
By Agencies |
BANGKOK: Bilateral trade between Thailand and India is poised to cross the $4 billion mark this year as both countries celebrate the 60th anniversary of diplomatic ties.
Indian Ambassador to Thailand, Latha Reddy, said trade and investments between both countries had shown positive trends, citing bilateral trade of $400 million in 1992, $1 billion in 2000, $2 billion in 2004 and $3 billion last year.
She said Thailand now accounted for USD 830 million of approved foreign direct investment (FDI) in India, mainly in food processing, hotel and tourism, construction and electrical equipment, telecommunications, trading and transportation sectors.
"India's FDI in Thailand has also risen. In the first quarter of 2007 it rose by 110 percent over the same period last year," she said.
She said companies like Aditya Birla Group and the Indo Rama Group have been here for a number of years.
"Many new companies are also venturing into Thailand, including Tata Steel, the fifth largest producer of steel in the world, which is investing 2.5 billion baht in Thailand's largest producer Millennium Steel and would set up the first mini-blast furnace here," she said.
Indian Ambassador to Thailand, Latha Reddy, said trade and investments between both countries had shown positive trends, citing bilateral trade of $400 million in 1992, $1 billion in 2000, $2 billion in 2004 and $3 billion last year.
She said Thailand now accounted for USD 830 million of approved foreign direct investment (FDI) in India, mainly in food processing, hotel and tourism, construction and electrical equipment, telecommunications, trading and transportation sectors.
"India's FDI in Thailand has also risen. In the first quarter of 2007 it rose by 110 percent over the same period last year," she said.
She said companies like Aditya Birla Group and the Indo Rama Group have been here for a number of years.
"Many new companies are also venturing into Thailand, including Tata Steel, the fifth largest producer of steel in the world, which is investing 2.5 billion baht in Thailand's largest producer Millennium Steel and would set up the first mini-blast furnace here," she said.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
