India and Thailand discussed ways to expand bilateral trade and investment. Commerce and Industry Minister Piyush Goyal met Thailand’s Deputy Prime Minister and Commerce Minister, Suphajee Suthumpun, at Vanijya Bhawan in New Delhi. The two sides also discussed stronger business links.
Bilateral trade reached a record $20.93 billion in 2025. India exported goods worth $5.06 billion to Thailand, while imports stood at $15.87 billion. This left India with a trade deficit of $10.81 billion.
The ministers discussed the trade gap and ways to improve market access.They also explored greater collaboration to support balanced and sustainable growth in bilateral trade. Both sides stressed the need for stronger trade promotion and deeper business-to-business engagement.
The review of the ASEAN-India Trade in Goods Agreement (AITIGA) was another key part of the meeting. India and Thailand agreed on the need to advance the review through the India-Thailand Joint Trade Committee in a time-bound manner. They also called for a balanced and mutually beneficial framework to address existing market-access issues.
Goyal and Suthumpun later addressed representatives of Thai companies working in space technology, cold-chain logistics, food processing, innovation, health and wellness, and trade and investment promotion.
India and Thailand have longstanding civilisational, cultural and economic ties. Both countries are now looking to deepen these links through greater trade, investment and private-sector cooperation.
