India is encouraging Thailand to deepen its engagement in key Indian export sectors, particularly pharmaceuticals and medical technology, says the Confederation of Indian Industry (CII).
During a recent familiarisation visit to India organised by India’s Ministry of External Affairs and attended by a delegation of Southeast Asian journalists, the CII outlined its economic priorities and highlighted opportunities for bilateral cooperation.
Shobha Ahuja, a consultant with the CII, said that while the Thailand-India Free Trade Agreement (FTA) has boosted trade, the balance remains in Thailand’s favour. She urged Thai investors to consider investing in India to help rebalance trade flows.
“Although we have an FTA, the trade balance has consistently favoured Thailand,” Ms Ahuja said, adding India would also like to know what products Thailand is interested in in terms of Indian exports.
“What would Thailand want to buy from us?” she asked.
She added that during a recent virtual meeting with Thailand’s Board of Investment in September, both sides identified pharmaceuticals and medical technology as promising sectors for mutual investment.
“We see strong potential for Thai businesses to invest in Indian pharmaceutical and medical technology industries,” she said.
“At the same time, Indian companies are also exploring opportunities in Thailand’s healthcare sector, leveraging its strategic location as a gateway to the Asean market.”
Ms Ahuja cited successful examples of Indian firms using Thailand as a regional base to expand across Southeast Asia, underscoring the country’s role as a springboard into broader Asean markets.
Rohin Agarwal, CII’s Head of Asean and Oceania, added India is also collaborating with Thailand through mechanisms such as the Mekong-Ganga Cooperation and the Thailand-India Chamber of Commerce.
He highlighted additional sectors with strong export potential, including the automotive, renewable energy, infrastructure, and food processing industries.