Moneycontrol
Mar 16, 2016 10:33 AM IST | Source: PTI

Thailand invites Indian pharma, IT cos for investment

Government's expenditure on infrastructure investment and transportation development are some of the key factors driving the growth of Thailand's economy, Chotipal added.

Thailand invites Indian pharma, IT cos for investment

Thailand invited Indian pharma and information technology companies to invest in the South-East Asian country.


"We are a leading economy in ASEAN and invite Indian companies to invest in pharma and IT sector for our growth. We are also looking at Thai companies to invest in India," Thailand Board of Investment Director and Consul (Investment) Kanokporn Chotipal told reporters here.


Several Indian companies like Apollo, Tata Consultancy Services (TCS), Tech Mahindra, Wipro, Polaris, Aditya Birla Group, 3i Infotech and Tech Tree have operations in Thailand, she said.


There is a lot of scope for increasing trade volume between the two Asian countries, she added.


"We export polymer, chemical products, motor cars, iron and steel products, air condition machines and precious stones and jewellery to India. We import chemical products, machinery parts, jewellery including silver bars and gold, vehicle parts and vegetable products from India," Chotipal said.


The foreign direct investment (FDI) in Thailand is on the rise and it ranked first among Asean countries, followed by Malaysia and Indonesia, she said.


A recent survey by the Board of Investment (BOI) proves Thailand's continued attractiveness as a promising investment destination for foreign investors. The BOI assessed foreign investors' confidence levels and their investment plans for the year 2015-2016, she said.

Government's expenditure on infrastructure investment and transportation development are some of the key factors driving the growth of Thailand's economy, Chotipal added.

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