Australia
(Source : Consulate General of India, Sydney)
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Significant trends Details of significant trends
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Analysis
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During the period Jan-Jun 2017, the bilateral trade figures between the two countries were US$ 7.8 billion as compared to US$ 4.7 billion during the same period of last year. This is an increase of approx. 66 percent.
India’s merchandise goods export to Australia (Australian imports from India) was US$ 1.8 billion which is 9 percent more compared to the same period during 2016.
India’s merchandise goods import from Australia during Jan-May 2017 stood at US$ 5.97 billion with an increase of 98 percent as compared to the same period of previous year.
Indian merchandise Exports to Australia was dominated by ‘Refined Petroleum’ which experienced a decrease of 4.8 percent as compared to the same period in 2016, followed by the usual items – Medicaments, Pearls and Gems, Railway vehicles & Made up textile articles.
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The total bilateral trade has increased by USD 3.1 billion during the period.
The other highlights of bilateral merchandise goods trade has been the significant increase in export of ‘Organo inorganic compounds’ (approx. 188%) from India to Australia and import of ‘Coal’ (approx. 90%), chick peas and wheat from Australia to India during Jan – May 2017.
Railway vehicles have been the new entrant in India’s top 10 exports to Australia at US$ 62 million and with a percentage growth of 182%. This can be mainly attributed to the Bombardier supplied “Made in India” metro train coaches to Australia.
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Thailand
(Source : Embassy of India, Bangkok)
ASEAN-India Joined Power
Prachachart Turakij | Aug 28, 2017
India is one of the world’s major emerging markets. Led by Prime Minister Narendra Modi, India’s policies have changed significantly. At the India-ASEAN Youth Summit 2017, Maria Teresita C. Daza, Ambassador of the Philippines to India, noted that 2017 marks the 25th anniversary of India-ASEAN relations. ASEAN accounted for 10% of India’s total trade while India is the seventh largest trade partner of ASEAN, with a total trade value of $7.6 billion per year in 2014-2015 and $6.5 billion in 2016-2017. The Regional Comprehensive Economic Partnership (RCEP) is viewed as a tool to prevent trade barriers in the world. It is expected that the agreement will be concluded at the end of 2017. Maria Teresita added that India has a large domestic market, inexpensive labor and a strong democracy and laws, however, it requires further infrastructure development and improvements in the ease of doing business. Thailand’s Ambassador to India, Chutintorn Kongsak, pointed out that Thailand needs ASEAN in order to increase its competitiveness and that ASEAN countries should learn from Singapore in order to grow effectively.
Discussion on FTA of Thailand and India
Prachachart Turakij | Aug 31, 2017
Thailand and India signed a bilateral free-trade agreement (FTA) that reduced import taxes to 0% under the Early Harvest Scheme for 82 items in 2004. This caused India to have a negative trade balance with Thailand for quite some time. At a later date, further Thailand-India FTA negotiations were paused as India turned to negotiating an ASEAN-India FTA in order to expand the market to 10 ASEAN countries. The ASEAN-India FTA is currently still pending. At the ASEAN-India Expo and Forum 2017, H.E. Nirmala Sitharaman, Minister of Commerce & Industry, asked ASEAN to review the ASEAN-India FTA in order to further open the markets and reduce trade barriers. Jane Namchaisiri, President of the Federation of Thai Industries (FTI), stated that India’s investors had expressed concern over import tax exemptions on 82 items and said that if India decides to close certain markets such as those for chemical products, textiles and jewelry, it may affect Thai exporters. The private sector suggested that the government find a solution by further negotiating the Thailand-India FTA. India is one of Thailand’s major trading partners, with economic growth of over 7.2% and a large population. The trade value between Thailand and India stood at $5.69 billion in the first seven months of 2017 (or 27.13% growth). Major products Thailand exports to India are such as plastic beads, chemical products, automobiles and parts. Thailand imports gems, jewelry, silver and gold bars, chemical products, machinery and parts from India.
Celebrating India in Thailand
Bangkok Post, Newspaper Section: Life, 31 Aug 2017
The "Festival of India" in Thailand will celebrate the 70th anniversary of diplomatic relations between the two countries. "The festival will act as a refresher to the people of Thailand, especially the new generation, of our age-old friendship," said Indian Ambassador Bhagwant Bishnoi.
The festival will begin in Septemeber and continue till January, starting with a vibrant classical dance-drama on Sept 2 at Sala Chalermkrung Theatre. Called Sri Krishna, the performance narrates the story of god Krishna, well-known for his pranks as a child and adult. It will be performed by the Sri Bharatakala Dance Academy in Bharatanatyam style, a classical dance that originated in Tamil Nadu, with a live orchestra. A second show will be performed in Kanchanaburi on Sept 3 at the Sala 60 Pansa Maharaj Hall.
The Indian dance programme will be the first performance of the annual International Dance Festival of the Friends of the Arts Foundation, held in November. In September and October, a sumptuous spate of food festivals from different states of India will be organised. There will be an Uttar Pradesh Food Festival (from Lucknow and Varanasi) at the Rembrandt Hotel, which will then travel to Phuket and Krabi. The Northeast Indian Food Festival (from Shillong and Manipur) will be held at the Shangri-La Hotel. A painting by Anajolie Ela Menon. Photo: Festival of India in Thailand 2017 The Punjabi Food Festival will take place at Maya at the Holiday Inn Sukhumvit, as well at the Royal Cliff Hotel Pattaya.
A talk and exhibition on ayurveda will be held at Queen Sirikit National Convention Center on Sept 23-24, with the sale of Ayurvedic products. Moving on towards the scholastic activities, the festival will include a few linguistic seminars. "The Influence of Sanskrit and Pali on Southeast Asian Languages, With Special Emphasis on Thai" will be held at Chulalongkorn University on Sept 25.
On Nov 18, the Princess Maha Chakri Sirindhorn Anthropology Centre will host "Thai Language In India", which will feature the Tai ethnic community in India, who live in the Northeast, like Assam. Their ancestors are believed to be from Thailand and they speak a dialect of Thai called Tai.
The most important artist to perform during the festival in November will be world-famous violinist L Subramaniam. He will perform at the Thailand Cultural Centre on Nov 4. Subramaniam, who`s based in the US, is noted for his mastery of classical Indian, Western and fusion rhythms. He composed music for the film Salaam Bombay and performed for Bernardo Bertolucci`s Little Buddha.
An exhibition featuring some of the top contemporary Indian artists will be held at the BACC from Sept 15 to Oct 1. The theme is "India At 70" and is curated by Gargi Sethi. Among the artists whose works will be on display are Anajolie Ela Menon and Jatin Das. There will be a special acrobatic display by the Indian Air Force`s Sarang Helicopter Team in November. The venue has yet to be announced.
In December, look out for "Buddhist Imagery from Bharata to Suvarnabhum", a Buddhist sculpture exhibition with more than 70 images of the Buddha from Thailand and India, at the National Museum. The rarely seen Indian sculptures have been loaned by Delhi`s National Museum.
Several yoga and Bollywood workshops will take place at Benjasiri Park, from November to January.
Seminar on “Business & Investment Opportunities in West Bengal held in Bangkok
Kolkata, Aug 31 (UNI)
A Seminar “Business & Investment Opportunities in West Bengal”was organised by Embassy of India at Bangkok, in collaboration with the Thai Chamber of Commerce today at Bangkok. A high powered official and business delegation from West Bengal led by State Principal Secretary, Department of Industries, Commerce & Enterprises S Kishore and MD, WBIDC Vandana Yadav, visited Thailand from August 30 to September 1 to promote closer engagement and cooperation in various fields and explore trade and investment opportunities between the Thailand and West Bengal. The session was addressed by Khun. Sanan Angubolkul, Vice Chairman of Thai Chamber of Commerce & Board of Trade of Thailand and Chairman & President, Srithai Superware Public Co. Ltd. Mr Kishore delivered the keynote address. Ms. Vandana made a presentation on ‘Opportunities on West Bengal’. From the Indian Embassy in Bangkok, Thailand Abbagani Ramu, Charge D’Affairs, Embassy of India in Thailand delivered the welcome address. The opening remarks was delivered by Dr Sanjay Kumar, Commercial Representative, Embassy of India, Thailand. The event had a vibrant interactive session with different businesses and associations from Thailand and members of the official and business delegation from West Bengal.
Uzbekistan
(Source : Embassy of India, Tashkent)
Two new Free Economic Zones have been opened in Uzbekistan: Hazarasp and Kokand.
1) Hazarasp FEZ
The free economic zone is located near the homonyms city of the Khorezm region. It is assumed that in FEZ the following production would be established: production and export of carpet weaving, food, textile, chemical, pharmaceutical, agricultural products and building materials.
The president`s decree said that the participants of the FEZ are recommended to use local raw materials and maximize the percentage of localization of goods.
Today Khorezm region is one of the largest suppliers of sugar and textiles. In 2010, exports of local products in monetary terms amounted to 145 million dollars.
2) Kokand FEZ
Kokand
Kokand is an outpost of the Fergana Valley, designed to become the economic center of the region. Here, according to the presidential decree, will be organized a free industrial zone, specializing in the production of construction, food, chemical, textile, leather goods, footwear products.
The total volume of industry in the region in 2010 amounted to 396 million dollars. Foreign trade turnover for this period reached 922 million dollars. The structure of exports is dominated by energy resources - 22%, cotton fiber - 16%, chemical products - 15%. Regional companies export goods to 81 countries of the world, including Russia, China, Iran, Ukraine.
Venezuela
(Source : Embassy of India, Caracas)
Government will distribute medicines from India: President Nicolás Maduro announced on Friday during a speech from the Miraflores Palace that a large quantity of drugs and medical equipment have arrived in Venezuela from India. He specified that the supplies will be distributed among 21 hospitals that depend on the Ministry of Health and other hospitals of a military nature. Among the materials showed medicines, gloves, canteens and instruments for sutures.