BOI Marks Its Presence in Mumbai, Boosting Indo-Thai Investment Ties

The Board of Investment of Thailand (BOI) co-organized the event on 26 June 2013 with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Royal Thai Consulate in Mumbai to mark the start-up of its investment services between Thailand and India based in the business hub of Mumbai.

The event was graced by Mr. Prasert Boonchaisuk, Thailand's Minister of Industry and Mr. Sachin Ahir, Minister of State for Industry of Maharashtra Government. Mr. Pisan Manawapat, Ambassador of Thailand to India, Mr. Apurva Chandra, Principal Secretary of Industries of Maharashtra, Mr. Udom Wongviwatchai, Secretary-General of BOI and Mr. M.K. Birla, Chairman of Aditya Birla Group, were also present.

The opening ceremony at Trident Hotel in Nariman Point saw a ballroom packed with Thai businesspeople, business friends of Thailand, and members of local business communities.

In his welcoming remarks, Ambassador Pisan Manawapat observed that over the past two years, the relationship between Thailand and India has peaked as he had personally witnessed three official visits to India of two prime ministers of Thailand and the first bilateral official visit to Thailand by the Hon Drใ Manmohan Singh last May. The Joint Statement following the Prime Minister of India's visit reflects the determination of both leaders to support closer economic and business ties between the two countries such as the establishment of the India-Thailand Business Forum, fast track service for business visa and more ai, road and sea connectivity between the two countries.

Mr. Prasert Boonchaisuk thanked India Governments and states and business communities for the warm welcome and support for the expanding Indo-Thai investment relations, marked by the start-up of such services for this first time. He also highlighted the close relations between two countries and expected growth of bilateral trade and investment. In terms of investment, Thailand in 2012 received more than USD 600 million dollars from India especially from automotive sector. The BOI's presence in India aims to attract and facilitate more investments to Thailand as well as assist Thai investments in India.

Mr. Sachin Ahir congratulated the start-up of Thailand investment services in Mumbai and welcomed the opening of its office in the financial capital of his state. He said India would be willing to work with Thailand in promoting bilateral investments which is part of the century-old relations and the current excellent state of bilateral ties.

Mr. M.K. Birla commended Thailand as the first foreign hub of his Empire, Aditya Birla Group, which laid its foundation there since mid 1960s. He said that Thailand's solid foundation for investment included Government's support through BOI, progressive policies, sound macro-economic fundamentals and infrastructure, global mindset and strong committed workforce. Thus, according to him, Thailand is endorsed as a great investment destination.

During the panel discussion on the Thailand-India Investment Cooperation, Mr. Udom Wongviwatchai gave a brief summary of incentives granted by BOI for foreign investors interested in Thailand. Thai private sector representatives, Mr. Chen Namchaisiri and Mr. Anusorn Muttaraid, shared their views and experiences in doing business in India especially Mr. Anusorn's Delta Electronics, a 100 per esent subsidiary of Delta Electronics (Thailand), which has been operating in India since 1992. Delta Electronics in India has catered its products to local and neighboring markets such as Nepal, Bangladesh and Sri Lanka.

Also joined in the discussion, Dr. Ajit Ranade from FICCI sees rooms for stimulating investments between two countries despite the current low volume. Both sides need to find the correct measures and incentives. He also pointed out that, even though Thailand has only 6 per cent of Indian population but its revenue represents 18 per cent of India, therefore,Thailand is an interesting economic partner of India, both in bilateral and under ASEAN context. Dr. Ajit also suggested Thailand to spend more focus on its fields of expertise i.e. electronics, automotive, rubber and jewelry; and grant incentives to SMEs as well.

BOI representative in Mumbai is Ms. Kanokporn Chotipal, Director and Consul (Investment). She can be reached at the address and contacts below;

Ms. Kanokporn Chotipal
Director and Consul (Investment)
Thailand Board of Investment, Mumbai
Royal Thai Consulate-General
Dalalmal House, 1st Fl., Jamnalal Bajaj Marg,
Nariman Point, Mumbai - 400 021
Tel : (91 22) 2204 1589-90
Fax : (91 22) 2281 0808
Email : This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.boi.go.th/

Kanokporn Kunnawat &
Khanin Boonyasopat
2 July 2013