India’s Exports to Thailand in 2025: A Growing Trade Partnership

India and Thailand share a robust trade relationship, bolstered by the ASEAN-India Trade in
Goods Agreement (AITIGA) and an Early Harvest Scheme under the proposed India
Thailand Comprehensive Economic Cooperation Agreement (CECA). In 2023, India
exported US$5.43 billion worth of goods to Thailand, with exports reaching US$2.77 billion
from April to October 2024, reflecting steady growth despite global economic fluctuations.
Here’s a look at what India exports to Thailand in 2025 and why this trade dynamic matters.
Key Indian Exports to Thailand
India exported 4,418 commodities to Thailand in FY24, showcasing the diversity of its export
portfolio. The major categories include:
 Engineering Goods (US$1.8 billion in FY24): This includes nuclear reactors,
boilers, machinery, and combustion engines (US$484 million in 2023). These
products support Thailand’s industrial sector, which contributes around 30% to its
GDP.
 Pearls, Precious, and Semi-Precious Stones (US$723 million in FY24): Diamonds
(US$513 million in 2023) and jewellery, including silver bars and gold, are significant
exports, catering to Thailand’s thriving jewellery market.
 Organic and Inorganic Chemicals (US$372 million in FY24): These are essential
for Thailand’s chemical and manufacturing industries.
 Marine Products (US$281 million in FY24): Fresh, chilled, frozen, and processed
aquatic animals, including fish and crustaceans (US$159.24 million from April
October 2024), meet Thailand’s demand for high-quality seafood.
 Pharmaceuticals and Drug Formulations (US$271 million in FY24): Medicinal
and pharmaceutical products support Thailand’s healthcare sector.
 Spices (US$193 million in FY24): Coffee, tea, and spices are in demand due to
Thailand’s culinary culture and food processing industry.
 Electronic Goods (US$217 million in FY24): These include electrical machinery
and household appliances, aligning with Thailand’s electronics market needs.
 Other Notable Exports: Vehicle parts and accessories (US$181 million in 2023),
iron and steel products, fabrics, and metal waste/scrap round out India’s diverse
offerings.
Why Thailand Matters for Indian Exports
Thailand, with a GDP of US$513 billion in 2023 and exports accounting for 55% of its
economy, is a key market in the ASEAN region, ranking as India’s fourth-largest trading
partner after Singapore, Indonesia, and Malaysia. Its strategic location as a gateway to the
ASEAN Economic Community (AEC) enhances its appeal for Indian exporters. The
AITIGA, effective since 2010, and the Early Harvest Scheme (covering 83 products since
2004) have reduced tariffs, boosting trade. Bilateral trade reached US$14.94 billion in FY24,
with India’s exports growing at an annualized rate of 1.78% from 2018 to 2023.
Trends in 2025
Recent data from December 2024 shows India’s exports to Thailand at US$394 million, with
top exports including gold (US$65.6 million), pearls and precious stones (US$49.2 million),
internal combustion engines (US$39.9 million), spices (US$20.8 million), and auto
components (US$19 million). However, exports saw a slight decline of 4.34% year-on-year,
driven by reduced shipments of oil meals (down US$23.4 million) and marine products
(down US$15.2 million). Despite this, India’s diverse export portfolio and ongoing CECA
negotiations signal potential for growth.
Why It Matters
India’s exports to Thailand support its “Act East” policy, aligning with Thailand’s “Act
West” strategy, fostering economic and diplomatic ties. Major Indian companies like Tata
Steel Thailand, Tata Consultancy Services, and Aditya Birla Group have a strong presence in
Thailand, further strengthening bilateral ties. As Thailand’s industrial and consumer markets
grow, India’s high-quality, cost-competitive goods position it as a vital trade partner.
Sources: Embassy of India, Bangkok; India Brand Equity Foundation (IBEF); Observatory of
Economic Complexity (OEC); Trading Economics.