How will FTA between India and Thailand benefit Toyota?

How FTA between India and Thailand will benefit toyota?

At present, Toyota imports critical engine parts for its higher end cars like the Corolla from Thailand. … The company has earmarked Rs32 billion for 2008-11 to set up a second plant in Bangalore, increasing production from the current 80,000 per year to 200,000.

Is there any free trade agreement between India and Thailand?

India-Thailand Free Trade Agreement

India has recently inked a free trade agreement (FTA) with Thailand for setting up of a free trade area covering goods, services and investment in 10 years.

What we can import from Thailand to India?

Major imports by India from Thailand are in the following sectors: Motor cars, parts and accessories, Parts of aircraft and accessories thereof, Machinery and parts thereof, , Radio-broadcast receivers, television receiver and parts, Iron and steel and their products, Polymers of ethylene, propylene, etc.

What is exported from Thailand to India?

Major exports from Thailand to India include electronics, machinery, automobile and automobile parts and accessories, jewellery, and rubber products. Coming the other way from India are crude oil, chemicals, machinery, jewellery including gold and silver, iron and steel products and food products.

How much is import duty in Thailand?

Thailand’s average bound tariff for non-agricultural products is approximately 25.6%. Thailand levies high tariffs on goods such as: 80% on motor vehicles, 60% on motorcycles and certain clothing products, 54% to 60% on distilled spirits, and 30% on certain articles of plastic and restaurant equipment.

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Is India richer than Thailand?

India has a GDP per capita of $7,200 as of 2017, while in Thailand, the GDP per capita is $17,900 as of 2017.

Can I import car from Thailand to India?

Rules To Import A New Car:

The car must be imported only from the country where it was built. The car must be new in every sense. It must not be previously sold, loaned, registered, or leased before being imported to India. The vehicle must be right-hand drive.