BANGKOK, Thailand – Thailand and India are strengthening their strategic partnership through a “Co-Creation Co-Investment” model to integrate their industries into the global supply chain, following recent bilateral discussions in Bangkok. On September 17, Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun met with Indian Ambassador Puneet Agrawal at the Ministry of Commerce. They discussed joint investments and shared production in high-potential sectors such as herbal products, pharmaceuticals, information technology, processed foods, green industries, automotive, construction, and hospitality.
This meeting built on the Thai commerce minister’s recent visit to India, where she met with Indian Commerce and Industry Minister Piyush Goyal. Both countries agreed to develop mutually beneficial pilot investment models within 45 days, excluding sensitive sectors. Several Thai investors have shown interest in the initiative, and Indian enterprises are preparing to invest in data centers in Thailand through joint ventures. Officials will use the upcoming Joint Trade Committee framework to draft an action plan, monitor cooperation, and address trade barriers.
In the service sector, Thailand and India are working to link Thailand’s PromptPay with India’s Unified Payments Interface to streamline cross-border transactions. They are also exploring Baht-Rupee settlements to facilitate trade and reduce financial costs. To support workforce development, Thailand has offered to help India develop vocational and hospitality training programs, while India has requested support for its accounting, auditing, and IT professionals seeking employment in Thailand.
India remains Thailand’s leading trading partner in South Asia and its seventh-largest partner worldwide. From January to July 2026, bilateral trade reached 13.97 billion U.S. dollars, an 8.07 percent increase over the previous year. Thai exports, primarily plastic pellets, chemicals, and edible oils, totaled 10.27 billion U.S. dollars, while imports from India amounted to 3.70 billion U.S. dollars. (NNT)
