Thailand Urged to Increase Economic Cooperation with India

[snoop1130]

 

BANGKOK (NNT) - India’s ambassador to Thailand, Nagesh Singh, has urged Thailand to increase economic cooperation and bilateral relations with India.

 

The Indian ambassador encouraged Thailand to invest more in India, highlighting its large market size and dynamic economy. He also proposed that both countries could link their digital payment systems, India’s United Payment Interface (UPI) with Thailand’s PromptPay, to facilitate transactions.

 

Singh made these comments at "The Golden Decade for India" forum, organized by the India-Thai Chamber of Commerce held in Bangkok. During the forum, Singh outlined India’s economic performance, stating that India has been among the fastest-growing economies in the world for the last two decades.

 

Thailand is India’s fifth-largest trading partner within the bloc, behind Indonesia, Malaysia, Singapore, and Vietnam. Singh called for increased investment between the two countries, with a focus on sectors such as automobiles, food products, and electronic goods.

 

Last year, India overtook the UK to become the world’s fifth-largest economy. The country’s GDP is expected to double from its current value of $3.4 trillion to $8.5 trillion over the next decade, making it the world’s third-largest economy. India is expected to account for 20% of total global GDP growth during this period, adding over $400 billion (13.7 trillion baht) to its GDP every year, second only to the US and China.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230421130311045

 

-- © Copyright NNT 2023-04-21

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[itsari]

The UK has thrown much business away with Brexit so involving India in more trade can only be a plus , especially when there is at the moment at least a Indian prime minister residing in number 10 Downing Street.

[oustaristocrats]

China, Russia, India, what's next. Thailand to join BRICS, team up with Brazil, S-Africa, to make it clear on which side the country -sorry- government, is.

[nigelforbes]

37 minutes ago, oustaristocrats said:

China, Russia, India, what's next. Thailand to join BRICS, team up with Brazil, S-Africa, to make it clear on which side the country -sorry- government, is.

And why not, why shouldn't Thailand have trading agreements with those countries, all the Western countries do?

[Srikcir]

2 hours ago, oustaristocrats said:

China, Russia, India, what's next. Thailand to join BRICS, team up with Brazil, S-Africa, to make it clear on which side the country -sorry- government, is.

"Thailand Seeks Closer Ties wuth BRIC and BRIC Plus," June 28, 2022 ref. NNT

[Srikcir]

Just now, Srikcir said:

"Thailand Seeks Closer Ties wuth BRIC and BRIC Plus," June 28, 2022 ref. NNT

BRIC includes Russia, China and India. 

[RichardColeman]

Thailand - Buy more rice !!!!

India - Buy more suits !

[wombat]

With India soon to have a larger population than China having both countries close by the tourism potential is huge 

[jacko45k]

Perhaps they should wait for India to invade a neighbor!

[John Drake]

19 hours ago, snoop1130 said:

Thailand is India’s fifth-largest trading partner within the bloc,

Which bloc? They didn't bother to mention it.

[oustaristocrats]

10 hours ago, nigelforbes said:

And why not, why shouldn't Thailand have trading agreements with those countries, all the Western countries do?

Nothing against trading agreements but I was just hinting at division of world order, countries make a choice which side there're on, who are your friends at the world stage, just remember recent BRICs event, you would need to shake hands with a leader convicted as a war criminal. 

[nigelforbes]

43 minutes ago, oustaristocrats said:

Nothing against trading agreements but I was just hinting at division of world order, countries make a choice which side there're on, who are your friends at the world stage, just remember recent BRICs event, you would need to shake hands with a leader convicted as a war criminal. 

Many Asians don't view things as divided as you, have to say I don't and I don't think the Thai's do either. Trade is trade, relationships are relationships, trading with you doesn't mean I have to be in your gang.

[chalawaan]

They had better move soon, because the shift out of China is going to be the greatest economic exodus in human history. 

And India need to seriously get out it's own way, the beaureaucratic BS there makes Thailand look like a well oiled machine!

[chalawaan]

18 minutes ago, nigelforbes said:

Many Asians don't view things as divided as you, have to say I don't and I don't think the Thai's do either. Trade is trade, relationships are relationships, trading with you doesn't mean I have to be in your gang.

You can't be Mercedes, or Airbus (yes I know they just signed a deal, but they also invented the A380 and time has proved that to have been a giant flop.)

 

Who wants to tie their fortunes to the CCP and deal with a regime that has the tantrums of a three year old, and now insist on a party seat-warmer on the board to rubber stamp every single move you make!

Also, their labour costs have skyrocketed.

Bye China, it was fun while it lasted. 

Edited April 22, 2023 by chalawaan