How Do ASEAN Nations Contribute 11% to India's Global Trade?
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Synopsis
Discover how ASEAN nations are pivotal to India's trade landscape, contributing 11% to global trade. Recent meetings in New Delhi highlight ongoing efforts to enhance trade agreements and cooperation, showcasing the strategic importance of these relationships.
Key Takeaways
- ASEAN constitutes 11% of India's global trade.
- Bilateral trade reached USD 123 billion in 2024-25.
- Discussions focused on modernizing the AITIGA.
- Seven AITIGA Sub-Committees addressed specialized areas.
- Future meetings are planned to continue dialogue.
New Delhi, Aug 15 (NationPress) ASEAN serves as a crucial trade ally for India, representing approximately 11 percent of the nation’s total global trade, as reported by the Ministry of Commerce and Industry on Friday.
In the financial year 2024-25, bilateral trade between India and the ten ASEAN member states reached an astounding USD 123 billion, highlighting the strong economic connections and the enormous potential for future partnerships.
India hosted the 10th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related events at Vanijya Bhawan, New Delhi, from August 10 to 14.
Delegates from all ten ASEAN nations - Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam - participated in discussions aimed at reviewing and updating the AITIGA.
The objective of the meeting was to enhance the agreement's effectiveness, accessibility, and adaptability to facilitate trade in a changing global landscape. Building on the progress from eight rounds of prior negotiations, the Joint Committee sought to simplify processes, eliminate obstacles, and harmonize regulations.
This high-level assembly, which took place in a hybrid format, gathered senior officials and trade specialists from across the region. In addition to the main sessions, seven of the eight AITIGA Sub-Committees convened to focus on specific areas, such as customs procedures, market access, sanitary and phytosanitary measures, rules of origin, technical standards, legal frameworks, and trade remedies.
The Ministry stated that these focused meetings enabled thorough discussions on intricate issues, ensuring that any modifications to AITIGA would embody both technical precision and the collective vision of the member countries. The week-long discussions reaffirmed the strategic significance of ASEAN-India economic ties and paved the way for a more open, predictable, and mutually beneficial trade environment.
The dialogue will continue with the Joint Committee's next meeting scheduled for October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia, hosted by Malaysia, the ministry confirmed.
The sessions were co-chaired by Nitin Kumar Yadav, Additional Secretary in India’s Department of Commerce, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade) at Malaysia’s Ministry of Investment, Trade & Industry.
Point of View
It is imperative to recognize the strategic and economic significance of ASEAN's partnership with India. This collaboration not only strengthens trade relations but also fosters regional stability and growth. The ongoing efforts to modernize trade agreements reflect a commitment to mutual benefits, aligning with the nation's goals for economic advancement.
NationPress
05/10/2025
Frequently Asked Questions
What is the significance of ASEAN for India?
ASEAN is a crucial trade partner for India, contributing approximately 11% to India's global trade, which underscores the economic ties and collaborative potential.
What was discussed in the recent ASEAN meeting?
The recent meeting focused on reviewing and modernizing the AITIGA, aiming to streamline processes and enhance trade effectiveness.
When is the next ASEAN-India Joint Committee meeting?
The next Joint Committee meeting is scheduled for October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia.
Who participated in the ASEAN discussions?
Delegates from all ten ASEAN member countries participated in the discussions, focusing on enhancing trade agreements.
What are the potential benefits of the AITIGA updates?
The updates to AITIGA aim to make trade more accessible and effective, aligning with the dynamic global economy.
