Mumbai: The Ministry of Commerce held discussions with representatives from Indian private sector organizations to promote SDGs Together and connect Thailand and India. The Ministry of Commerce is advancing its SDG Together policy to foster cooperation between Thailand and India in the construction and real estate supply chains. This initiative promotes mutual recognition of green labeling standards, opening opportunities for environmentally friendly Thai construction materials and furniture to enter the Indian market, and supporting the sustainable development of both countries.
According to Thai News Agency, Thai Commerce Minister Supachie Suthamphan revealed after a meeting on cooperation between the Thai and Indian private sectors at the St. Regis Hotel in Mumbai that the meeting aimed at "the future of the next generation," focusing on pushing for the practical implementation of the Mutual Recognition Agreement (MRA) on green product standards and expanding cooperation into sustainable green supply chains. India is considered a high-potential market with a middle-class population of over 800-900 million by 2035, up from over 500 million currently. This population size is conducive to creating a market scale for upgrading the standards and quality of green products and can create a positive impact on market expansion in the region and globally.
Ms. Supajee stated that for the relationship between Thailand and India to be sustainable, it must be based on mutual benefit and complement each other as economic "jigsaw pieces." India is strong in many dimensions, while Thailand is ready to be a part of supporting and enhancing India's potential for further exponential growth, especially by being an integral part of regional and global supply chains.
'Although Thailand has a smaller economy and population than India, Thailand aims to be a crucial piece in completing India's supply chain. We don't view cooperation solely as one-to-one trade, but as collaborative work to support growth and facilitate expansion into other global markets,' Ms. Supajee said.
The Minister of Commerce stated that discussions with the private sector and relevant agencies in India revealed that certain types of construction materials and industrial products in India still have insufficient production capacity to meet demand, especially over the next 2-3 years. These include materials such as rubber, wood, paper, glass, as well as chemicals like adhesives and paints. This presents an opportunity for Thai products that meet environmental standards and have received green label certification.
Ms. Supajee stated that sustainability and environmental issues cannot be overlooked, and are not merely optional but essential for all sectors to prioritize. Driving collaboration on "green" initiatives is therefore a key focus, enabling the efficient allocation of resources, efforts, and operations to achieve tangible results.
During this meeting, the Ministry of Commerce brought together Thai private sector representatives from the Federation of Thai Industries and the Thai Business Council for Sustainable Development (TBCSD) to discuss with the Confederation of Real Estate Developers' Associations of India (CREDAI) and the Confederation of Indian Industry (CII) to promote cooperation on green labeling product standards and the sustainable development of the construction and real estate industries.
The event was attended by Mr. Wutikrai Leewiraphan, Permanent Secretary of the Ministry of Commerce; Ms. Kirida Paochit, Assistant Minister of Commerce; Ms. Sunanta Kangwalkulkit, Director-General of the Department of International Trade Promotion (DITP); Mr. Anand Muthukrishnan, Deputy Executive Director of CII - Indian Green Building Council (IGBC); Mr. Keval Valambhia, Chief Operating Officer of Maharashtra Chamber of Housing Industry (CREDAI-MCHI); and Mr. KS Venkatagiri (TBC), Executive Director of CII's Green Business Centre.
In addition, a Mutual Recognition Agreement (MRA) was signed between the Confederation of Indian Industry's Sohrabji Godrej Green Business Centre (CII-GBC) and the Thailand Environment Institute (TEI). Mr. KS Venkatagiri, Executive Director of CII-GBC, and Dr. Wijarn Simachaya, President of the Thailand Environment Institute, signed the agreement.
This agreement builds upon the Mutual Recognition Agreement (MRA) signed in 2019, which recognized each other's green label certification standards. It facilitates business operations, reduces redundant testing, increases buyer confidence, and opens opportunities for Thai green-labeled products to enter the Indian market and be used more extensively in green construction and building projects. At the same time, it encourages businesses to develop environmentally friendly products and services to cater to both domestic and international markets, leading to economic growth and sustainable development in both countries.