The Commerce Ministry is scheduled to organise export stimulus activities in Indian cities this year to raise export growth to the country to 8% this year worth US$9.21 billion.
The ministry is also speeding up its efforts to sign a memorandum of understanding (MoU) to form deeper trade partnerships through mini-free trade agreements (mini-FTAs) with Karnataka and Maharashtra states.
According to Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department, the ministry also wants to sign similar MoUs with Kerala, Assam and Gujarat states.
The ministry signed an MoU in April for a mini-FTA with Telangana state in southern India.
Mr Phusit said the export stimulus activities include in-store promotions in partnership with Lulu Mall to sell Thai products between July 29 and Aug 12; the Top Thai Brand and Thailand Week trade fair in New Delhi from July 10-31; and Thai Trade Expo 2022 in Telangana on Aug 5-7.
Business matching events for food products, beverages, vegetables and fruits, cassava and products, rubber wood and products, construction materials, batteries, medical equipment and tools, furniture, gems and jewellery, and service businesses will be held on a continuous basis until the end of September, which is the last month in fiscal 2022, he said.
Mr Phusit said the department ordered commercial ambassadors in India to study opportunities for Thai entrepreneurs to invest or enter joint ventures in potential business in India, especially in the hospitality and tourism sectors, infrastructure construction and logistics, automotive and electronic components, agriculture and food processing industries.
They were also assigned to study the opportunity to export Thai products to serve retail and franchising markets in India, especially e-commerce startups due to the rapid expansion of the middle- and upper-class consumer base.
India is Thailand's 11th biggest trading partner its largest trading partner in South Asia. Two-way trade between Thailand and India tallied $14.9 billion in 2021, up 52.5% from 2020.
