6 Indian firms participate in Thai business meet
The Dollar Business Bureau
Six companies from India will take part in the 2016 edition of largest industrial subcontracting and business networking event in ASEAN region, being held in Bangkok from May 11-14.
Out of those, there are two start-ups from the services sector, including Zilingo and Wings Travel Management. From the services sector, these will be the first companies from India to take part in the Subcon Thailand 2016.
Zilingo will be eyeing opportunities in the e-commerce sector whereas Wings Travel Management will look for funding opportunities in the tourism sector.
Apart from these, the Indian companies taking part in the event are Grauer and Veil India (chemicals), Lloyds Steel Industries (steel and heavy engineering fabrication), V-Guard Industries (electrical appliances) and Zenith Enterprises (machinery).
The Subcon Thailand 2016, an annual event, is being organised by UBM Asia (Thailand) in association with the Thailand Board of Investment and Thai Subcontracting Promotion Association.
India-Thailand bilateral trade has grown considerably and has quadrupled from $2.05 billion in 2004 to $8.65 billion in 2014.
In 2015, the trade between the two countries shows that exports from Thailand were $5.29 billion and imports stood at $3.03 billion. India is the 10th largest exporting partner of Thailand and overall 16th largest trading partner.
The companies from Thailand operating in India are mainly in the sectors of agro-processing, automotive, banking, construction and engineering. These include Charoen Pokphand (CP) Group, Delta Electronics, Italian-Thai Development Plc (ITD), Krung Thai Bank, Pruksa Real Estate, Rockworth Office Furniture, SCG Trading, Thai Summit Auto and Thai Airways International.
The companies from India operating in Thailand are majorly in the fields of automotive, chemicals, information technology (IT), pharmaceuticals, steel and textiles. These include Aditya Birla Group, Dabur, Indo Rama Group, Lupin, NIIT, Ranbaxy, Tata Motors and many others.