Comparative Similarities Between India And Thailand

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India and Thailand, located in one another’s stretched out region, share a coastal boundary of the Andaman sea. The religions unite both countries, Buddhism is trusted by the majority of Thai people. Hindu elements could be found in Thai arts, architecture, drama, and literature. Moreover, Thai language is largely influenced by Pali and Sanskrit. India and Thailand implement policies that are incorporate to each other. India adopts Look East Policy, whereas Thailand adopts Look West Policy. And Thailand values India as one of the most influential trading parter. Both countries inter-relations are connected in many aspects; politics, history, religion, social and culture, and, of course, their trading relationships. Economic and commercial…show more content…
As explained in the paragraph above, the 2009-2010 total trade did not improve much from the year earlier as because the whole global economy system was affected by the credit crisis started in the mortgage problem from the United States. Nonetheless, since 2010 onwards the total trade kept then significantly increased annually as in 2010-2011 the total trade is 6.54 billion USD. In addition the numbers total trade were 8.34 and 9.19 billion USD, respectively in 2011-12 and 2012-13. Although we see the positive trends of trading patterns in earlier year, in 2013-14 we see a slight decline in the total trade, which could be affected by factors such as the appreciation of exchange rates or even the non-economic factors like political stability in Thailand. Consequently, the total trade in 2014-2015 was improved, the growth can be seen again by comparing to the earlier years. By looking at the export and import data published by the Department of Commerce, Government of India, we can see that India has a current account deficit compared to that of Thailand. At the same time, evidently, Thailand has a current account surplus compared to that of India. India’s trade balance has been fluctuating slightly for the last five
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