11December 2019, Bangkok – Ms. ‘Amy’ Chulamas Jitpatima, Director of MQDC India, underscored India’s potential for young Thai entrepreneurs at her keynote address to ‘Vibrant India’, a seminar at Thammasat University, Bangkok to mark India’s Constitution Day.
Ms. Jitpatima, who has recently launched MQDC’s ‘Whizdom Club’ in New Delhi, said that young Thais often overlook India’s huge potential for innovative services and products.
“India is the world’s youngest major economy and recent reforms make it far easier to invest there,” she said.
“India has a thriving startup culture, for example. There are 50,000 startups in India and several ‘unicorns’ – startups valued over $1 billion. These companies open up a host of opportunities for products and services that Thailand’s entrepreneurs can help provide.”
Ms. Jitpatima introduced Bangkok-based property developer to India with ‘Whizdom Club’. This 400-seat co-working space and ‘inspiration hub’ launched in August in New Delhi’s upscale ‘GK2’ district.
“I was able to set up Whizdom Club in less than 2 years, which reflects India’s increased ease of doing business,” she said.
“Indian students and startupreneurs are open to new concepts, embracing Whizdom Club’s innovative mix of work and lifestyle amenities, with its café and recreation lounge, as well as its workstations and ideation spaces. Members and users also respond well to the MQDC and Whizdom brands from Thailand.”
Asst Prof. Dr. Nitinant Wisaweisuan, Dean of Thammasat University’s Pridi Banomyong International College, said MQDC India’s success provided an inspiring case study for entrepreneurs eyeing India as a market.
“MQDC India’s Whizdom Club reflects the dynamic, youthful culture of India, where over half the population is under 25,” she said.
“Whizdom Club also embodies trends that will make India even more attractive in the future – the importance of the internet, rising urbanization, and the expansion of the Indian middle class, up from 50% of the population today to an estimated 80% by 2030.”
Pridi Banomyong International College’s Indian Studies Program aims to give Thais the insights to address such opportunities as well as India’s challenges, such as its urban pollution and rural deprivation, she added.
Ms. Alpana Dubey, Deputy Chief of Mission (DCM) at the Embassy of India in Thailand, gave introductory remarks at the seminar, welcoming the first ‘Vibrant India’ event to build Indian-Thai connections.
“India and Thailand share very strong age-old relations based on our language, religion, culture,” she said.
“The Act East Policy of India and the Act West Policy of Thailand have led to substantial expansion in multiple areas of co-operation, such as trade, investment, defense and security, science and technology, and ICT.”
Ms. Jitpatima stressed that Thai entrepreneurs in India should be humble, ask questions, recap discussions, and stick to their principles.
“You sometimes need to be forceful to get things moving but you must also form friendships and have fun,” she said.
