Key Takeways
- The Ministry of Commerce, led by Suphajee Suthumpun, discussed business opportunities with major Thai firms in India, including Thai Oil and SCG, along with directors from Thai Trade Centers. The focus was on gathering feedback regarding market challenges and shaping government support.
- Thai companies acknowledged India’s potential, fueled by an expanding middle class, expected to grow from 500 million to 800–900 million by 2035. This presents significant opportunities for Thai products in sectors like food, petrochemicals, and construction materials.
- A key challenge identified was the complex certification process under the Bureau of Indian Standards (BIS), which can delay supply chains. The Ministry plans to collaborate with Indian agencies to enhance mutual understanding and promote balanced partnerships for long-term trade benefits.
The Ministry of Commerce, Suphajee Suthumpun (ศุภจี สุธรรมพันธุ์) has held discussions with six major Thai corporations operating in India—Thai Oil, GPSC, SCG, CPF, CP Group, and Shera—together with directors of Thai Trade Centers in Mumbai, New Delhi, and Chennai. The meeting aimed to gather direct feedback on business opportunities and challenges in the Indian market and to shape government support in line with real market conditions.
All Thai companies agreed India remains a high-potential market, driven by a rapidly expanding middle class of around 500 million people, expected to rise to 800–900 million by 2035. This growth creates strong opportunities for Thai products and services, especially in food, petrochemicals, construction materials, and innovation-based industries.
However, a major challenge identified was certification under the Bureau of Indian Standards (BIS), which involves strict and complex procedures that can delay supply chain integration. The Ministry of Commerce will coordinate with relevant Indian agencies, the Ministry of Foreign Affairs, and Thai commercial diplomats to improve mutual understanding and facilitate smoother production and trade linkages.
The Ministry emphasized that trade and investment with India must be based on balanced and mutually beneficial partnerships throughout the value chain, enabling businesses in both countries to adapt to each other’s regulations, standards, and policy directions in the long term.
