Bangkok Post – India and Thailand eye closer trade ties

Ambassador backs deeper connections through commerce and shared heritage

Nagesh Singh, India’s ambassador to Thailand

As India and Thailand mark 78 years of diplomatic relations this year, both nations are seeking to expand cooperation in trade, investment, and tourism, aiming to tap into their longstanding historical and cultural ties.

Nagesh Singh, India’s ambassador to Thailand, said bilateral economic ties are gaining momentum, particularly through the ongoing review of the Asean-India Trade in Goods Agreement. “Eight to nine rounds of dialogue have taken place between India and Asean members to modernise the agreement to suit current economic realities,” he told the Bangkok Post.

Thailand’s “Act West” policy — an initiative that leverages Thailand’s strategic position as a maritime gateway linking Southeast Asia with South Asia — aligns closely with India’s “Act East” policy, creating new opportunities for cross-regional collaboration. India’s policy, launched in 2014, is a diplomatic initiative aimed at enhancing India’s economic, strategic, and cultural ties with Southeast Asia and the Indo-Pacific, with Asean at its centre.

Mr Singh said Thailand and India are active in multiple regional frameworks, including the East Asia Summit, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, the Mekong-Ganga Cooperation, and the Indian Ocean Rim Association.

Trade and investment remain a cornerstone of the bilateral partnership. In 2021, Thai firm Global Renewable Synergy Co Ltd made the largest-ever Thai investment in India’s renewable energy sector, worth US$453 million (about 16.5 billion baht).

Mr Singh said the Indian market continues to attract interest from Thai investors, especially in sectors such as hospitality, construction materials and green energy.

“We can see growing interest from Thai companies to invest in India,” he said. “Even if you get a small portion of the Indian market, it’s a huge amount of sales for companies.”

Tourism is also a key area targeted for expansion. While connectivity between the two countries has improved, Mr Singh said Indian destinations remain under-promoted in the Thai market.

“India has a complete menu of tourism experiences — from skiing in Kashmir to the beaches of Goa and Kerala, to wildlife safaris and wellness retreats. Yet, many Thais remain unaware of these offerings due to an information gap,” he said.

Mr Singh said misconceptions about safety in India persist, largely due to a lack of accurate information. “India is a continent-sized country that offers something for every traveller. We hope more Thai people will consider visiting India.” .

Cultural and spiritual ties also underpin the bilateral relationship. With 95% of Thais practising Theravada Buddhism, the connection to India — the land of the Buddha’s enlightenment — remains strong. The Thai literary epic Ramakien is derived from India’s Ramayana, and Sanskrit and Pali influences can still be seen in Thai names and traditions.

Mr Singh praised the contributions of the Indian diaspora in Thailand, describing them as a “living bridge” between the two countries.

“They are brand ambassadors of our friendship and contribute significantly to Thai society across many sectors,” he said.

More than 400,000 people of Indian origin, including around 25,000 non-resident Indians, live in Thailand.

With shared goals for regional growth and mutual prosperity, India and Thailand are poised to build on decades of cooperation and move towards an even closer partnership in the years ahead, he noted.

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