Kolkata, Nov 13, 2010 (Calcutta Tube/IBNS): P R Chakravarty, Indian Ambassador to Thailand, visited Bengal Chamber of Commerce & Industry (BCCI) and interacted with the Business Development Task Force of the organization over the possible business opportunities between India and Thailand.
The Chamber also placed several specific business proposals to Chakrvarty on Wednesday’s meeting here.
The most important of all the proposals was made by the KKN Group, who are aiming to establish a edible oil refining unit in Thailand.
The KKN Groups are looking to acquire 30 acres of land in Thailand to establish the factory.
KKN will invest Rs.250 crores to establish the factory and thus aim at producing 500 tonnes of edible oil each ay from the unit.
“In this context, KKN is looking for 30 acres of land in Thailand, where the amount of investment will approximately be Rs. 250 crores. The unit is expected to produce about 500 tonnes of edible oil each day,” said P Roy, Director General, BCCI.
Chakravarty said: “The trade data for the period January – September 2010 indicates a rebound from the global financial crisis, with trade for this period posting a healthy total of US$ 49.2 billion, Thai exports to India: US$ 3.26 billion, Thai imports from India: US$ 1.66 billion, registering a net growth of 41.2%, exports:42.54%, imports 38.68%.”
Chakravarty said the important items that are exported include jewellery, chemicals, petroleum products and pig iron.
“The key items of our export are jewellery, chemicals, metal ores, metal waste scrap, vegetable products, electrical household appliances, parts and accessories of vehicles, medicinal and pharmaceuticals, yarn and fibres, petroleum products, pig iron,” Chakravarty said.
The BCCI also mentioned on Wednesday’s meeting that it would aim at felicitating more business deals between Thailand and India, which would be of specific interest to business houses from Bengal.