India's Involvement with Thailand
The end of the Cold War led to a significant enhancement in the substance and pace of bilateral interactions. India's Look East policy from 1993 and Thailand's Look West policy since 1996 set the stage for a substantive consolidation of bilateral relations. The past few years since 2001 have witnessed growing warmth, increasing economic and commercial links, exchange of high-level visits on both sides, and the signing of a large number of agreements leading to a further intensification of age old cordial relations. Buddhism and the Indian epic, the Ramayan are the traditional bonds between the two countries at the spiritual level.
Thailand and India are cooperating in various multilateral fora like India's dialogue partnership with ASEAN, the ASEAN Regional Forum (ARF), and the East Asia Summit, the sub-regional grouping BIMSTEC involving Bangladesh, India, Sri Lanka, Thailand, Myanmar, Nepal and Bhutan, and trilateral transport linkages with Thailand, Myanmar and India. India is a member of the Asia Cooperation Dialogue (ACD) initiated by Thailand in 2002 and of the Mekong-Ganga Cooperation (MGC), a group of six countries.
Bilateral trade between the two countries touched US$ 4.11 billion in 2007-08, as compared to US$ 3.18 billion in 2006-07, registering a growth of 28.97 per cent. During the period April-December 2008-09, India exported goods worth almost US$ 1.44 billion to Thailand. Total FDI inflow during April 2000-July 2009 from Thailand was US$ 55.36 million. The sectors that have witnessed Thai investment are telecommunications, hotel & tourism, food processing, trading and chemicals .With the signing of the free trade agreement (FTA) between India and ASEAN countries, Thailand is targeting US$ 10 billion bilateral trade in 2010.