India and Thailand have been negotiating a free trade agreement for quite some time now. The two countries share a bilateral trade worth about $12 billion, and an FTA would undoubtedly boost this figure even further. While the negotiations are ongoing, there are several items that are likely to be included in the final agreement. Let us take a closer look at these items.

1. Agricultural products

Both India and Thailand are known for their agricultural prowess. The FTA is expected to facilitate the increased trade of agricultural products between the two countries. India will be able to export items like rice, wheat, and dairy products to Thailand, whereas Thailand can export fruits, vegetables, and seafood to India.

2. Gems and jewelry

India is the world`s largest diamond cutting and polishing center, and Thailand is a major exporter of colored gems. The FTA will remove the tariff barriers on gems and jewelry, which will lead to an increase in trade in this sector. Both countries are also expected to cooperate on issues related to research and development and quality control.

3. Pharmaceuticals

India is known for its affordable and high-quality generic medicines, whereas Thailand has a good regulatory system for pharma products. The FTA is expected to boost the export of Indian generic medicines to Thailand and vice versa.

4. Textiles

India is a major exporter of textiles, and Thailand has a strong textile industry. The FTA is likely to focus on the removal of tariff and non-tariff barriers on textile products, which will help boost trade in this sector.

5. Automotive industry

Thailand is a major automotive hub in Southeast Asia, and India is also home to several large automotive companies. The FTA is expected to facilitate the increased trade of automotive components and finished vehicles between the two countries.

6. Services sector

The services sector is a vital component of both India and Thailand`s economies. The FTA is expected to cover several services sectors like IT, healthcare, education, and tourism, among others. By liberalizing trade in these sectors, both countries can benefit from each other`s strengths.

In conclusion, the India-Thailand FTA is expected to be a win-win situation for both countries. The inclusion of the above items in the final agreement would go a long way in boosting bilateral trade and strengthening the economic ties between the two countries.