Trade agreements promise exponential growth for Indian exports and investments

The 6th ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related meetings for discussions on the review of the AITIGA were held from 15-22 November 2024 in Vanijya Bhawan, New Delhi. The AITIGA Joint Committee met for 2 days from 21-22 November 2024 and the meeting was co-chaired by Additional Secretary, Department of Commerce, India, Shri Rajesh Agrawal, and Deputy Secretary General (Trade), Ministry of Investment, Trade & Industry, Malaysia, Ms. Mastura Ahmad Mustafa,. The leads and delegates from all 10 ASEAN countries viz. Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand & VietNam participated in the meeting.

Official acknowledges that implementing such measures could be challenging due to India’s free trade agreements with Japan, South Korea, Mauritius, and Asean bloc

India’s trade deficit with Asean widened from $ 4.98 billion in 2010-11, the first full year of operation of AITIGA to $ 38.4 billion in 2023-24.

The duty aims to protect domestic industries from below-cost imports amid rising global trade tensions

The duty aims to protect domestic industries from below-cost imports amid rising global trade tensions

India and Asean are major demographies and their collaboration can be crucial in tackling contemporary issues, ensuring food and health security and addressing political challenges in the shared region like Myanmar, External Affairs Minister S Jaishankar said on Friday

Rice export prices in Asia dropped sharply this week after India, the world's largest exporter of the staple, eased restrictions on exports, increasing competition in the region.

Since Vietnam and India established a comprehensive strategic partnership in 2016, two-way trade has increased 2.5fold to nearly 15 billion USD in 2023, while there remains great potential for investment and trade cooperation between the two countries.

Early trends suggest that, in the period post Regional Comprehensive Economic Partnership (RCEP), China has demonstrated superior gains when compared to other participating nations. Studies suggest that India's decision to abstain from RCEP stemmed primarily from a commitment to shield its manufacturing sector. A comprehensive understanding of this situation necessitates an exploration of the challenges faced by Indian manufacturing, not only from China but also from the Association of Southeast Asian Nations (ASEAN) through the Free Trade Agreement (FTA) route.