Thailand-India Trade Surges 8% as Deputy PM Drives Cooperation
Thailand and India boosted bilateral trade by 8% to nearly $14 billion in the first seven months of 2025, with Deputy PM Suphajee Sutharmphan driving new cooperation in herbal medicine, IT, food processing, and green industries through join
Deputy Prime Minister Suphajee Sutharmphan revealed details of her meeting with Indian Ambassador to Thailand Puneet Agarwal on September 17 at the Commerce Ministry, where both countries emphasized readiness to strengthen their strategic partnership through co-creation and co-investment cooperation. The collaboration will focus on sectors where both nations have potential, including herbal medicine and pharmaceuticals, IT, processed foods, green industry, automotive, construction, and hospitality, with joint investment and production aimed at integrating into global supply chains rather than simply exporting goods between the two markets.
Suphajee noted she had visited India earlier this month and discussed the initiative with India's Commerce and Industry Minister Piyush Goyal, identifying complementary opportunities while avoiding sensitive sectors. Both sides assigned their respective teams to drive progress within 45 days, with Thailand's Commerce Ministry providing support. Five to six Thai investors have already expressed interest in co-investment with India under this framework, and Indian companies are preparing data center investments in Thailand through joint ventures with Thai firms.
Both countries agreed to use the Joint Trade Committee as a mechanism to monitor cooperation and discuss market access, with India's commerce minister proposing the committee develop an action plan to advance the initiative. On the services side, both nations are working to link India's UPI payment system with Thailand's PromptPay, and exploring local currency trading in baht and rupees to reduce transaction costs. India has requested Thailand's assistance in developing hospitality training curricula and vocational education programs, while also requesting support for Indian professionals, including accountants, auditors, and IT specialists, to work in Thailand.
India ranks as Thailand's seventh-largest trading partner globally and number one in South Asia. During the first seven months of 2025 (January-July), bilateral trade reached 13,974.56 million US dollars, expanding 8.07 percent compared to the same period last year, with Thai exports to India valued at 10.2 million US dollars.
