Egypt
(Source : Embassy of India, Cairo)
Potential products of Imports from India –
Automobile and auto components (8708) - Egypt is strategically located close to many developing countries with open markets for car imports. The Egyptian automotive Market Volume in 2018 reached 19,804 vehicles (15088 are passenger cars, 1586 buses and 3130 trucks) compared to 14,673 vehicles in 2017 (with increase of 35.6 %).
All auto majors like GM, Toyota, BMW, and Hyundai have presence in Egypt. Our exports of automobiles during 2018-19 were USD 136.2 million and auto components were USD 77.5 million in the same period (Total 213.4 Million USD).
Following the implementation of zero tariffs for automobile imports from EU to Egypt early this year, as per provisions of Egyptian – European Partnership Agreement, there were some concerns among local auto component manufacturers on likely adverse impact on them. However, the Egyptian Government has recently come up with customs incentive scheme to protect local manufacturing while at the same time keeping the doors open for imports.
Bajaj has a partnership with Ghabbour of Egypt for CKD assembly of two and three wheelers for Egyptian markets. TVS and Mahindra also have presence in the market.
Project exports in railways, construction, renewable energy, infrastructure etc.(Railway Items: 86) (Electrical Machinery (85) - Egypt has announced various mega projects which have created opportunities for the project exports by the Indian companies. Some of the major projects are: Suez Canal Economic Zone, High Speed Trains and new Metro lines, Housing units’ project, 1.5 million feddan (acre) land reclamation project, Renewable Energy projects and new Administrative Capital.
France
(Source : Embassy of India, Paris)
Significant trends in Trade & Investment (Sources: French customs statistics and Business France statistics)
Trade in goods - Trade – In JANUARY 2020, India France bilateral trade stood at € 768.14 million. India’s exports to France stood at € 518.49 million. Main exports to France included Aviation turbine fuel (ATF), Light diesel oil (LDO), T-shirts, precious jewellery, diamonds, pharmaceutical products, turbo-jets, articles of apparel, clothing accessories, handbags and other articles of leather or of composition leather, telephones for cellular networks "mobile telephones" or for other wireless networks, parts of turbojets or turbopropellers
Meanwhile, French exports to India stood at € 249.65 million. Main exports to India included turbo-jets and turbo propellers and gas turbines; other confidential organic chemicals; parts of turbo-jets and turbo propellers, other confidential products under chapter 85; Medicaments containing insulin but not antibiotics, put up in measured doses "incl. those for transdermal administration" or in forms or packings for retail sale; Hand pumps for liquids (excl. those of subheading 841311 and 841319).
Investment - Investment – According to the ‘Business France Annual Report 2018’, a public operator supporting French investors in India and Indian investors in France, there are over 150 Indian companies operating in France (including sub-subsidiaries), employing around 7,000 people. Seventeen investments from India were recorded in 2018, Indian projects often involved decision-making centres (59% of projects; 53% of jobs) and production/manufacturing operations (18% of projects; 34% of jobs). Investments were mainly made in the software and IT services sector (24% of projects; 30% of jobs), and the machinery and mechanical equipment sector (12% of projects; 21% of jobs).
DCM Mr. Ankan Banerjee, FS (ITOU/E&C) Mr. Premanand Jothy & Mr. Kalyan Chakravarthy Madala, Counsellor (Atomic Energy), Embassy of India, along with a 5-member Indian delegation (1. Mr. Atanu Chakraborty, Secretary (DEA), Ministry of Finance, Government of India; 2. Mr. S.K. Sharma, Chairman and Managing Director, NPCIL; 3. Mr. Sorabh Babu, Director (Power), Department of Atomic Energy, Mumbai; 4. Mr. Nitin Chaudhary, General Manager(Finance), NPCIL; 5. Mr. Hanish Chhabra, Deputy Secretary (DEA) Ministry of Finance, Government of India) participated in the 4th Meeting of the Indo-French Committee for Negotiation and Finalisation of Export Credit Financing for Jaitapur Nuclear Power Plant (JNPP) on 24-25 February 2020 at the French Ministry for Economy & Finance in Paris 12.
Mr. Upendra Tripathy, Director General, International Solar Alliance (ISA) visited Paris from 25 - 27 February 2020 for the ISA STAR-C Workshop [International Solar Alliance (ISA) & the United Nations Industrial Development Organization (UNIDO) - an invitational consultation workshop to refine the strategy for developing the STAR-C network].
Thailand
(Source : Embassy of India, Bangkok)
Webinar on ‘e-Diplomacy Dialogue’ on 23 June, 2020
IMC Chamber of Commerce & Industry organized a webinar on ‘e-Diplomacy Dialogue’ on 23 June 2020 on new Challenges and opportunities for India`s trade with Thailand and the role of diplomacy in transforming the relationship and facilitating bilateral trade in the changing dynamics in the times of COVID-19. Ambassador on her remark spoke about the Thai economy and opportunities existing in Thailand for Indian companies to promote business ties including enhancing trade and investment.
Meeting with representatives of major Indian IT Companies in Thailand
Deputy Chief of Mission convened a meeting on 29 June, 2020 with the representative of major Indian IT companies in Thailand to discuss about the opportunities available and to promote Indian IT Sector for exports/services in post COVID-19 scenario in Thailand.
India closes country to prevent COVID
Manager Daily 360 12.03.2020
India said on 12th March 2020 it will suspend all tourist visas to the country in a wide-reaching attempt to prevent the spread of coronavirus, as cases across the region continued to rise. U.N./international organizations, employment, project visas, stand suspended till 15th April 2020,” India’s Health Ministry said in a statement.
PTTEP wins Platinum Winner award
Krungthep Turakij 13.03.2020
PTT Exploration and Production Public Company Limited (PTTEP) represented by Mr. Siriphong Fuenglikhit, Vice President for Social Responsibility Department, recently received the Global CSR award at Platinum Winner, honoring the H.T.M.S. Underwater Learning Center Project. The award was presented by Hon’ble Justice Swatanter Kumar, Former Chairperson of National Green Tribunal, at the Energy and Environment Foundation Global CSR Awards 2020 recently held in New Delhi, India.
Covid 19 impacts Thai economy
Khao Sod 08.03.2020
In the past 2-3 weeks, COVID-19 outbreak has increasingly affected the economy. Private sector reduced GDP growth expectation as the export and tourism industries are directly impacted by the outbreak. Kasikorn Research Institute expected that Thailand will see only 0.5% GDP growth, reduced from the expected 2.7% growth. The country is expected to lose THB 410 Billion from the 8.3 million lower number of tourists amounted to a 2.4% of GDP. The retail industry is expected to see no less than THB 100 Billion damage as people don’t want to leave home. Commercial banks will see lower revenues due to the measures issued to help customers. The Tripartite Private Committee expected that the GDP growth of Thailand will be at 1.5-2%. The Thai National Shippers’ Council expected that Thailand’s export in 2020 will grow by 0-1%. The Vice Chairman of the Employers’ Confederation of Thailand revealed that employers are finding measures to reduce cost. Employers may slowdown the recruitment which will affect the 500,000 new graduates.
Gamble on national economy in Covid 19 outbreak situation
Daily News 09.03.2020
The economic cabinet has come up with the emergency measures to support Thai people during the recent COVID-19 outbreak in the country, including the measure to reduce Social Security’s contribution from THB750 per month or 5 percent of the salary to only 0.1 percent of the salary. The measure is expected to be available for 3 months.
THAIFEX may postpone
Prachachart Turakij 09.03.2020
The Director-General of the Department of International Trade Promotion revealed that the department will host a meeting on March 9 to decide the postponement of THAIFEX 2020. The department has developed measures for event postponement due to COVID-19 including 1) constant updates, 2) technology implementation for online marketing promotion, 3) hosting a teleconference with leaders, and 4) use Facebook Live to host workshops for exporters.
PM stops providing THB 2000
Kom Chad Luek 10.03.2020
On March 9, the Prime Minister Gen. Prayut Chan-o-cha revealed that the government suspended the THB 2,000 free money policy to help the public cope with COVID-19. Mr. Satit Pitutacha, Deputy Minister of Public Health, revealed that the government has adjusted the mask allocation to provide masks to medical personnel first. The Department of Internal Trade has increased the mask allocation for the Public Health Ministry from 300,000 to 700,000 pieces per day. MR Jatumongkol Sonakul, Labour Minister, presided over the unemployment center to monitor employments from COVID-19 crisis.
Measures to support farmers
Thai Rath 11.03.2020
The secretary-general of the Office of Agricultural Economics reveals that the office prepares 3 measures to support farmers who are being affected by COVID-19 outbreak, including the measure to promote domestic fruit consumption with the coordination from HomePro, IT Square, Tesco Lotus, Big C, and others. They will provide their department stores to sell 3,000 tons of fruit at fair prices.
Help Thai labors returning back from covid risk countries
Krungthep Turakij 11.03.2020
The Ministry of Labour established a countermeasure for the Covid-19 virus for every worker who recently returns from high-risk countries to quarantine themselves for 14 days. The National Security Health Office (NHSO), along with the Social Security Office (SSO), and the Comptroller General`s Department, is considering increasing compensation for medical expenses for insured patients who got infected with the Covid-19 virus.
Lower investor confidence index
Siam Rath 11.03.2020
The Chairman of the Federation of Thai Capital Market Organizations (FETCO) revealed that investor confidence index in March 2020. The 3-month investor confidence index reduced by 11.48% to 64.40 points due to concerns about the tourism crisis. Investors mostly interested in food and drink investment followed by energy, public utility, real estate funds, etc. Investors are hoping that the government’s measures will help improve the economy. The global factors that need to be monitored are COVID-19 outbreak, financial policies from central banks, etc.