The Indian Ambassador is reaching out to entrepreneurs from Thailand's north-eastern region to invest in the “Pharmaceutical - Food Processing - Agriculture - Leather Goods” sectors. Representatives from the Udonthani Chamber of Commerce and Industry revealed that Udon Thani city has the potential to attract Indian business investors.
The Indian Embassy in Thailand organized a seminar “Business Opportunities in India” in Udon Thani province, inviting entrepreneurs from the north-eastern region to do business and invest in India. They particularly encouraged participation in the pharmaceutical industry, meat products, leather goods, etc., industries that Thailand has not yet invested in. The Indian government has eased restrictions on direct foreign investment in nearly every industrial sector including construction, banking, railways, retail, airports, etc. Direct foreign investment in retail, online services, and single-brand retail through automatic channels is also permitted.
Bilateral trade between India and Thailand has grown, reaching a value of 17.7 billion dollars. In 2022, bilateral investment grew significantly. Many Thai companies have invested in India and several Indian companies have invested in Thailand. Important sectors for trade and investment between the two countries include engineering products, gems and jewelry, organic and inorganic chemicals, and seafood products.
Both countries have the potential to collaborate in several areas such as Information Technology, IT and ITES, Fintech, and future technologies like robotics and artificial intelligence. Thailand is the 5th largest trading destination in the ASEAN region, and similarly, Udon Thani province has potential due to its location in the heart of the upper northeastern region. It has an efficient transportation and logistics system and is a production center for agricultural industrial products for export. It serves as a development center for border trade and is located in the special economic corridor of the northeastern region (NeEC). This has made Udonthani a transport and logistics hub of the region. With a well-educated and skilled workforce and strong infrastructure, Udonthani is an ideal province for Indian entrepreneurs interested in investing and expanding their businesses.
Data updated on May 21, 2023
Source: The Department of Public Works and Town & Country Planning
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