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India Thailand sign trade agreements for Rs 2400 crore

first_imgChennai: Thailand and India have signed agreements for Rs 2,400 crore to boost trade ties between the two countries, Deputy Prime Minister of the southeast Asian country Jurin Laksanawisit said on Friday. The pacts were across segments including rubber, construction material, food and beverages, logistics, he told reporters here on the sidelines of an event organised by the CII (Confederation of Indian Industry). Giving a break up of the agreements, Laksanawisit on his first visit to India said the agreements signed in Mumbai total 4.45 billion Thai baht (about Rs 900 crore) while in Chennai, it was 7.623 billion Thai baht (about Rs 1,500 crore). Also Read – Commercial vehicle sales to remain subdued in current fiscal: Icra”The total trade generated by this trip is 12.075 billion Thai baht. This number is satisfactory and we consider it as a huge success for this visit”, he said. Leading a delegation from Bangkok with more than 30 companies taking part, he said the main objective of the visit was to strengthen strategic partnership with India, expand new business opportunities. For Mumbai, the focus on partnerships was on food, construction material, logistics and real estate development. For Chennai, the focus was on rubber market from Thailand to India, he said. The deputy Prime Minister, also holding the Ministry of Commerce portfolio, said the demand for rubber from India after his discussion with rubber companies during the visit was that India requires import of about one million tonne of rubber. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 days”The Indian domestic industry can meet about 40 per cent of rubber but India requires 60 per cent of the demand to import rubber. So, India is a high potential market,” he said. He noted that Indian market was growing steadily as it was not affected by the trade war which was currently on with many other countries. “So, as a result of economic expansion, your automotive and manufacturing industry, tyre and construction requires many raw materials, natural rubber and rubber-related products to expand steadily in India. One of the main raw materials that India businesses inform me was import of block rubber, compound rubber with black carbon,” he said. On the brief visit and the business delegation led by him, he said he has brought officials from Ministry of Commerce, Thailand Rubber Authority and many private sector for their business opportunities. “I met a lot of people from the Indian Rubber Association and Tyre Manufacturers Association of India,” he said. The Deputy Prime Minister said Thailand was inviting Indian businesses to sign another memorandum of understanding in November and they would launch an initiative to launch Thai products to be available in Indian market. “I will visit India one more time to promote Thai food and food products which has been increasingly popular in India.”, he said. On trade relations between the two countries, he said the bilateral two-way trade was at $12 billion in 2018.last_img read more

Dubai India go into the threematch home series a

first_imgDubai: India go into the three-match home series against South Africa looking to build on their early success in the ICC World Test Championship, while the visitors open their campaign in the competition. Virat Kohli led India to a 2-0 victory in the West Indies, which helped them grab the full 120 points available for a series, the only team to do so in three series played so far. Sri Lanka and New Zealand drew their two-match series 1-1 and are on 60 points each in Also Read – We will push hard for Kabaddi”s inclusion in 2024 Olympics: Rijijuthe points table while England and Australia are on 56 each after their five-match Ashes series ended 2-2. The championship was launched last month to add context to the longest format of the game. Each match of the India-South Africa series, to be played in Visakhapatnam, Pune and Ranchi is worth 40 points since points in the WTC are evenly distributed over the number of matches in a series (two to five), ranging from 60 points for each match of a two-Test series to 24 for each match of a five-Test series. So, India can go up to 240 points by grabbing all the points at stake in the series starting Wednesday. On the other hand, South Africa can join India at the top of the table with 120 points. The top two teams at the end of the league will play the final in the United Kingdom in June 2021 with the winners crowned the World Test champions.last_img read more