India’s ‘Look East’ policy is meant to improve business relations with South-East Asian countries. Thailand, being one of the most important South-East Asian countries with which India is having trade relations since ages is now at the cusp of India-Thailand Free Trade Agreement and bilateral investment treaty. A humongous growth of business between the two nations as per the Free Trade Agreement is imminent.Consistent efforts on the part of leaders of the two countries will provide an impetus to the business relations. India also wants Thailand to take part in the development of sectors like infrastructure, electronics, automotive, hospitality, health care and consumer goods by availing the opportunities provided by Make in India, Digital India, Skill India and other initiatives.
Amidst this developing scenario India-Thai Chamber of commerce (ITCC) is trying to culminate excellent business relations between the two countries, since its inception in 1974 ITCC has been playing a substantial role in strengthening the bilateral relations. The foundation of ITCC rests on the pillars of business growth between the two nations.
According to ITCC’s Constitution the main objectives of the Chamber are as follows:
(1) To try to promote enterprises in trade, industry, agriculture, finance and economy between Thailand and India and other foreign nations.
(2) To encourage and protect the interests of members in the undertaking of enterprises.
(3) To assist and accord facilities to members in the undertaking of enterprises in trade, industry, agriculture, finance and economy including help in working out solutions to problems confronting the undertaking for the common benefit of the enterprises.
(4) To conduct research relating to the commerce and economy, exchange and disseminate technical knowledge as well as commercial news.
(5) To promote the attainment of standard for goods manufactured and sold by members. As well as conduct research and improve the methods of trade towards the achievement of greater efficiency.
(6) To cooperate with the government in the promotion of trade, industry, commerce, finance of economy, including accordance of consultation and advice to the government in the development of the country.
Within the wide spectrum of the Chamber’s objectives, the pivotal one is the growth of trade between the two countries. The Chamber empowers its members to capitalize on opportunities and remove the bottlenecks by utilizing the Chamber’s platform to work in tandem with government and non-government stakeholders. It also facilitates for business prospects by optimizing synergies between Indian and Thai businesses.
I hope to look forward for a tenure in which I will put in my best efforts to leverage the working of the Chamber. I wish that all the members will cooperate, provide their opinions and will strive to infuse energy in making the Chamber attain new heights of excellence in the years to come.