India’s ambassador to Thailand, Nagesh Singh, has urged Thailand to increase economic cooperation and bilateral relations with India.
The Indian ambassador encouraged Thailand to invest more in India, highlighting its large market size and dynamic economy. He also proposed that both countries could link their digital payment systems, India’s United Payment Interface (UPI) with Thailand’s PromptPay, to facilitate transactions.
Singh made these comments at “The Golden Decade for India” forum, organized by the India-Thai Chamber of Commerce held in Bangkok. During the forum, Singh outlined India’s economic performance, stating that India has been among the fastest-growing economies in the world for the last two decades.
Thailand is India’s fifth-largest trading partner within the bloc, behind Indonesia, Malaysia, Singapore, and Vietnam. Singh called for increased investment between the two countries, with a focus on sectors such as automobiles, food products, and electronic goods.
Last year, India overtook the UK to become the world’s fifth-largest economy. The country’s GDP is expected to double from its current value of $3.4 trillion to $8.5 trillion over the next decade, making it the world’s third-largest economy. India is expected to account for 20% of total global GDP growth during this period, adding over $400 billion (13.7 trillion baht) to its GDP every year, second only to the US and China. (NNT)
