Millennium Post

Thailand beckons India Inc

Coimbatore: The Indo-Thai Chamber of Commerce (ITCC) on Tuesday invited the entrepreneurs and industrialists from this region to invest in Thailand, particularly in the industrial and education sectors.

Thailand, being the second largest exporter of food, computer peripherals and also automotives, has vast opportunities for the industries from Coimbatore region to invest in, ITCC president S S Phool told reporters here on the sidelines of signing a memorandum of understanding with two major trade and industrial bodies.

ITCC is exploring to widen its network with ASEAN and BRIC countries in the near future and Indian investors would have greater opportunities in Thailand, Phool said.

Group CEO of Safaff Global and former secretary-general of ITCC D Devadas said Thailand was interested in leasing out three universities to Indian investors, particularly educationists, so that more Indian students, who go to China and Russia for higher education, could come and study there.

Stating that these universities can be converted into medical or engineering university to attract more students, he said there would be a three-year tax holiday and the universities would have international faculty to keep up with higher standards of education, he said.

The Indian industries, which supply automobile components and products to various countries for their four- wheelers can also export to Thailand, he said.

MoUs were signed between the local chapter of Indian Chamber of Commerce and Industry and Coimbatore District Small Industries Association (Codissia), which would develop strong institutional trade and business relations to maintain a sustainable mechanism of dialogue and platform for discussions, chamber president Vanitha Mohan said.

The memorandum, among other things, would exchange information on general economic status, taxation, investment, opportunities, trade policies and legislative changes of their respective countries in order to strengthen trade, technological and industrial collaboration between Thailand and India, Codissia president R Ramamurthy said.

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