Page 2 - India-asean Trade

India reviews Asean trade pact to address domestic manufacturing anomalies

The Ministry of Commerce and Industry has asked for input from the industry to pinpoint products suffering from an inverted duty structure that puts local manufacturers at a disadvantage

India, Asean review: PSRs, greater market access likely on the table

The bloc seeks liberal product-specific rules in electronics and chemicals

Not an absolute no from India on RCEP, doors open: Asean secy general

Asean Secretary General Kao Kim Hourn CM is leading the Asean Secretariat delegation on a working visit to India

Asean Secretary-General Kao Kim Hourn arrives in India on five-day visit

This is Kao Kim Hourn's first official visit to India since assuming office in January 2023, spanning from February 11 to 15

India-Asean FTA review: Talks for 'modern' pact scheduled for Feb

For a long time, India has been worried about the routing of goods from third countries through non-Asean countries by taking the duty advantages of the agreement

Ahead of India-Asean FTA review: Industry flags spike in import of 38 items

Import of as many as 38 items from Asean members sees a sharp surge in H1FY24

Rajasthan trade body eyes business opportunities in the Asean region

ARTIA's chief advisor Kamal Kandoi said that Asean countries are attracting the entire world because of their enormous business possibilities

India-Singapore FTA , as a part of Asean needs to be studied together: GTRI

Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping. Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005. The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006. These suggestions assume significance as India and Asean have agreed to review their trade pact and are aiming to conclude the exercise by 2025. Asean members are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam. Out of these, five countries - Indonesia, Singapore, Malaysia, Thailand

Paper imports surge 43% in Apr-Sept fueled by jump in Asean shipments

Paper imports into India surged by 43 per cent in volume terms in the first half of 2023-24, fueled by a more than two-fold jump in imports from ASEAN countries, according to official data. The Directorate General of Commercial Intelligence and Statistics (DGCIS) data showed that imports of paper and paperboard jumped to 959,000 tonnes in April-September 2023-24 from 672,000 tonnes in the first half of FY2022-23. Imports from ASEAN countries shot up from 81,000 tonnes in the first half of FY23 to 288,000 tonnes in the first half of FY24. Imports from China were almost flat at 186,400 tonnes in the period under review. In value terms, total paper imports rose to Rs 6,481 crore in April-September 2023-24 from Rs 5,897 crore in the year-ago period. Imports from ASEAN countries more than doubled to Rs 1,509 crore in the first half of FY24 from Rs 715 crore in the year ago period. Paper imports from China were worth Rs 1,629 crore in the first half of this fiscal against Rs 1,919 crore

Asean-India joint statement stresses on promoting public food stockholding

In their joint statement, Asean-India leaders emphasised on promoting efforts for public food stockholding for food security programmes and exploring exports of foodgrains

India, Asean to conclude review of existing free-trade agreement by 2025

The FTA between India and the 10-nation bloc came into effect 13 years ago. Indian businesses have long been pushing for its review

India, Asean to intensify efforts to wrap up trade agreement review by 2025

India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA). It also endorsed the term of reference of the AITIGA Joint Committee, the Work Plan of the review negotiations and the negotiating structure. Both sides agreed to make the agreement more user-friendly, simple and trade facilitative for businesses to increase trade and support sustainable and inclusive growth. "To this end, the meeting encouraged the officials to intensify their efforts with the aim of achieving a substantial conclusion of the review in 2025," the statement said. The consultation was ..

Govt reviewing FTAs with ASEAN, Korea: MoS Patel informed Parliament

The government is closely monitoring all the free trade agreements which it has signed and based on stakeholder consultations, existing FTAs with ASEAN and Korea are being reviewed, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Anupriya Patel said the government is negotiating FTAs with the European Union, the UK, European Free Trade Association (EFTA) and Canada. These negotiations or its review are a long-drawn process and the timeline for completion of such negotiations cannot be predicted since the parties to the negotiations are required to agree to the outcome, she said. "India has signed 13 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners...The government is closely monitoring these FTAs and based on stakeholder consultations, the experience and assessments thereof, the government is in the process of reviewing its existing FTAs with ASEAN and Korea," the

ASEAN members acknowledge India's active and positive contribution: Envoy

India's active and positive contribution to numerous ASEAN-led mechanisms over the years has been repeatedly acknowledged by the Southeast Asian member nations and other countries, High Commissioner P Kumaran has said. India has deep cultural ties linkages with ASEAN countries which has been strengthened in recent years with vibrant economic engagement and a growing sense of shared future, he said on Friday at a reception held on board the ICGS Samudra Paheredar, which paid a three-day visit to Singapore's Changi Naval Base. India's active and positive contribution to numerous ASEAN-led mechanisms over the years has been repeatedly acknowledged by the Southeast Asian member nations and other countries, he said. The Association of Southeast Asian Nations (ASEAN) is a regional grouping that aims to promote economic and security cooperation among its ten members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. During the ICGS ..

India, ASEAN countries promise to boost cooperation against terrorism

India and ASEAN countries vowed to establish a comprehensive strategic partnership and enhance cooperation against terrorism after Vice President Jagdeep Dhankhar addressed the 19th ASEAN-India Summit here on Saturday. Dhankhar is in Cambodia for his three-day visit. This year marks the 30th anniversary of ASEAN-India relations and is being celebrated as the ASEAN-India Friendship Year. The Association of Southeast Asian Nations (ASEAN) is an international organisation that has 10 member countries in Southeast Asia: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The ASEAN member states and India sought to strengthen cooperation on cybersecurity by establishing new dialogue platforms between India and the ten-member bloc. In a joint statement, they acknowledged the deep civilisational linkages, maritime connectivity, and cross-cultural exchanges between Southeast Asia and India which have grown stronger over the last 30 years

India, ASEAN can develop entire ecosystem for renewable energy: R K Singh

Union Power and New & Renewable Energy Minister R K Singh on Monday said India and ASEAN together can develop the entire ecosystem for renewable energy (RE) and explore the joint initiative for building RE manufacturing hubs in the region. At the ASEAN-India High-Level Conference on Renewable Energy, in his keynote address, Singh said India and ASEAN (Association of Southeast Asian Nations) can work together to develop an entire ecosystem for renewables that promotes knowledge sharing, capacity building and technical assistance; and also explore joint initiatives for the development of renewable energy manufacturing hubs in the region. The ASEAN-India High-Level Conference on Renewable Energy, being organised by the Ministry of New and Renewable Energy and the Ministry of External Affairs of Government of India on February 7-8, 2022, commenced on Monday. The High-Level Conference, over a period of two days, will focus on the theme: 'Experience and Innovations for Integrated ...

PM Modi pitches for convergence of approach between India, 10-nation ASEAN

The summit also welcomed the adoption of a new ASEAN-India Plan of Action for 2021-2025

Enhancing connectivity with ASEAN a major priority for India: PM Modi

The ties between India and ASEAN have been on an upswing in the last few years

Paper & paperboard imports surge 10% on nil customs duty after ASEAN FTA

The share of paper imports from ASEAN in total paper imports for India has risen more than four times from about 5 per cent in 2010-11 to about 21 per cent in 2019-20

India seeks stronger rules of origin as it urges ASEAN for FTA review

New Delhi insists review process must start before 2020 end, pushes for removal of barriers in existing deal