Both Thailand and India, is recently undergoing comprehensive reforms. Make in India is pursuing sustainable and inclusive economic growth for the people. On the other hand, Thailand 4.0 targets Sufficiency Economy Philosophy for Sustainable Development Goals. However, these reformative actions can be utilized by both the nations to strengthen their ties.
Politically, there is a common challenge to fight against terrorism, transitional organized crime and narcotics. Besides, their military and security relations are constructive and mutually beneficial, covering the land, air and sea dimensions. Well, India has a valuable role to play in the political environment, together with the several other regional powers.
As far as trading is concerned, Thailand is well established on the global value chains, holding good opportunities for India, particularly in the manufacturing and services. Aside, Thailand is working really hard together with India to link these two markets via India’s North-eastern region, Myanmar, Lao PDR, and Cambodia.
Other than India-Myanmar-Thailand Trilateral Highway, the other modes of connectivity such as maritime and air can be utilized. New initiatives like the Eastern Economic Corridor offer opportunities in the areas of the next generation aviation, robotics, healthcare, biochemical and biofuel.
Political will on both the sides will ensure delivery of the BIMSTEC and RCEP and FTAs in order to provide an added economic boost to the ASEAN and beyond. Similarly, this year also marks the 25th anniversary of the ASEAN-India relations. Additionally, an invitation has been extended to the leaders of the ten ASEAN member states in order to visit India for the Republic Day Celebration, 2018.
In 2017, India paid respect to the late King in Bangkok. This act was appreciated by the Thais. And in last March, HRH Princess Maha Chakri Sirindhorn visited India to receive the Padma Bhushan from the Indian President.
Booming tourism plus high-profile visits are allowing to transform the modern Thais’ perspective on the new India and vice versa. Considering people-to-people contact, it is estimated that almost 1.2 million Indians visit Thailand every year while adding to the goodwill reserve that Indians have for Thais.
