The Hindu Business Line : `Thai industry can gain from ties with India'

INDIA today offers "significant opportunities" for Thai companies in food processing and agro industries, industrial estate development, building of roads and highways, construction and financial sector, the Minister of State for Commerce and Industry, Mr E.V.K.S. Elangovan, has said.

Speaking at inaugural of the `Made in India Show' in Bangkok, the Minister said the Thai industry should take due advantage of the cheaper labour available in India by focussing on labour-intensive industries.

Giving suggestions to strengthen bilateral economic relations, Mr Elangovan said in the realm of services, India should leverage its capacities in collaboration with Thailand in financial services and banking, tourism and tourism infrastructure, human resource development, information and communication technology and education. He said India and Thailand could jointly develop the tourism roadmap in the region.

Illustrating this further, he said Phuket and Port Blair might offer combined tourist destination. In gems and jewellery, precious and semi-precious stones such as rubies and emeralds might be more cost-effectively sourced from Thailand and jewellery making expertise from India. This offers immense potential for collaboration.

Mr Elangovan said knowledge-based sectors such as healthcare, information, communication technology and biotechnology might be further explored for complementarities and co-operation. Technology sharing in space technology and biotechnology would be beneficial to both India and Thailand, he said, adding that India has capacities to contribute to Thailand's bid to become the "Detroit of Asia" in the automotive and automobile parts sector.

The Minister said the entry of multinational companies into Thailand and the production expansion of extant multinationals and the Government's pro-free trade agreements policy would give a boost to both manufacturing and export of vehicles in Thailand.