Friday, February 28, 2020

Jurin sees huge opportunities for trade with India

Jan 18. 2020
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By THE NATION

Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit has taken more than 80 private companies with him to negotiate trade deals in India, as well as aim to create a business network of Thai and Indian private sectors.

Jurin’s four-day trip began on Friday (January 17) and ends on Monday.

“India is interesting since the country has not been affected by the trade war between the US and China. Also, it will be the most populous country in the world in the future,” he said.

In addition, India is implementing a no-plastic policy which offers Thai businesses the opportunity to export cassava for producing bioplastics, in the process creating huge export value, Jurin added.

Meanwhile, India’s “Housing for All” policy also offered opportunities to Thai businesses, he said. This policy aimed to provide affordable houses for the urban poor, and could be a channel to export construction products or furniture from Thailand to India.

Jurin said Thai products can satisfy the demands of Indian consumers in various aspects.

Besides, he said, the potential of Thailand’s agricultural and industrial products had enough potential to be a part of the production chain in numerous industries in India.

“I expect this trip to generate many business opportunities.” Jurin said. “Last year, we visited India with representatives of some 30 to 40 companies and that created around Bt12 billion worth of business.

“This time, we have to wait for the results of business negotiations between companies dealing in Bengaluru and Hyderabad cities, before judging the total business value.”

He said India was a market the Ministry of Commerce was looking at for direct sale of palm oil to. Presently, sales are being routed through Singapore.

Furthermore, the minister said they had selected 200 products from Thailand and started sales in India recently through Bigbasket.com, an online grocery website.

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