By: Kanakporn Chotipal
Source: http://timesofindia.indiatimes.com
Category: Investment In India
NAGPUR: Thailand, which gets the highest number of tourists from India, is now eyeing the country for greenfield investment by offering manufacturers hefty tax sops and other incentives. Teams from Thailand's Board of Investment (BOI) are touring the country to call on industrialists, and this agency will be opening an office in Mumbai in the coming months. This will be the 13th overseas office of BOI.
The team, including director of BOI Kanakporn Chotipal, was in Nagpur on a two-day visit to find prospects for investment in agro-processing industries from this region. It met promoters of M/s Spacewood Furniture, a city-based firm engaged in making modular kitchens. A visit to Indo Rama Synthetics unit at Butibori is also planned. One of this company's promoters already has a sizeable presence in Thailand.
The country is looking for two-way investment, said Nageen Arora, Indian consultant for the Thai government. "Although we do not encourage mergers with local companies, the Thai government is looking for pure greenfield investment. The rules there are simpler as compared to India, which many investors from Thailand find to be too complex," said Chotipal.
Certain industries can get tax holidays for up to eight years, exemption from import tax duty, as well as double deduction on payment of public utility bills. This means industries can deduct double the amount of expenses incurred on heads like power or water bills from their income while calculating tax liability, she said.
Thailand already has investment from Indian companies, especially from the automobile sector and tyre makers. Rubber, the raw material, is easily available in the country which is the reason tyre makers find Thailand a favourable destination. It is also one of the largest centres in the world for automobile and auto spares manufacturing, said Arora.
Both countries have signed a free-trade agreement around seven years ago, but the ties have strengthened in the last couple of years, prompting BOI to push trade cooperation between the two countries, he added.
Thailand is expecting 5% economic growth this year, although severe floods last year were a set back. India is considered to be one of the important countries in this region for promoting business ties, said an official in the team.
Source: http://timesofindia.indiatimes.com/business/india-business/Thailand-eyes-investment-from-India/articleshow/15150605.cms
Source: http://timesofindia.indiatimes.com
Category: Investment In India
NAGPUR: Thailand, which gets the highest number of tourists from India, is now eyeing the country for greenfield investment by offering manufacturers hefty tax sops and other incentives. Teams from Thailand's Board of Investment (BOI) are touring the country to call on industrialists, and this agency will be opening an office in Mumbai in the coming months. This will be the 13th overseas office of BOI.
The team, including director of BOI Kanakporn Chotipal, was in Nagpur on a two-day visit to find prospects for investment in agro-processing industries from this region. It met promoters of M/s Spacewood Furniture, a city-based firm engaged in making modular kitchens. A visit to Indo Rama Synthetics unit at Butibori is also planned. One of this company's promoters already has a sizeable presence in Thailand.
The country is looking for two-way investment, said Nageen Arora, Indian consultant for the Thai government. "Although we do not encourage mergers with local companies, the Thai government is looking for pure greenfield investment. The rules there are simpler as compared to India, which many investors from Thailand find to be too complex," said Chotipal.
Certain industries can get tax holidays for up to eight years, exemption from import tax duty, as well as double deduction on payment of public utility bills. This means industries can deduct double the amount of expenses incurred on heads like power or water bills from their income while calculating tax liability, she said.
Thailand already has investment from Indian companies, especially from the automobile sector and tyre makers. Rubber, the raw material, is easily available in the country which is the reason tyre makers find Thailand a favourable destination. It is also one of the largest centres in the world for automobile and auto spares manufacturing, said Arora.
Both countries have signed a free-trade agreement around seven years ago, but the ties have strengthened in the last couple of years, prompting BOI to push trade cooperation between the two countries, he added.
Thailand is expecting 5% economic growth this year, although severe floods last year were a set back. India is considered to be one of the important countries in this region for promoting business ties, said an official in the team.
Source: http://timesofindia.indiatimes.com/business/india-business/Thailand-eyes-investment-from-India/articleshow/15150605.cms
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