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India reviews 13-year trade pact with ASEAN amidst surge in imports
Industry News- Dec 15,23
The surge in imports primarily originated from countries such as Singapore, Thailand, Indonesia, Malaysia, Vietnam, and the Philippines.
India is preparing to reassess its 13-year-old trade agreement with the Association of Southeast Asian Nations (ASEAN) due to a notable increase in the import of 38 items, including laptops, IT hardware, telecom equipment, and stainless steel products, during the initial six months of the current financial year.
The surge in imports primarily originated from countries such as Singapore, Thailand, Indonesia, Malaysia, Vietnam, and the Philippines, according to individuals familiar with the situation as reported by Business Standard.
The ASEAN grouping comprises 10 members, including Brunei Darussalam, Cambodia, Laos, and Myanmar. The India-ASEAN Free Trade Agreement (FTA) was signed in August 2009, with the deal coming into effect from 2010 onwards.
Source: Business Standard
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