Deciphering the 19th ASEAN-India Summit
2 years, 1 month ago

Deciphering the 19th ASEAN-India Summit

Hindustan Times  

The Association of South East Asian Nations and India had the 19th Summit to commemorate the 30th Anniversary of Asean-India dialogue relations on November 12, 2022 in Phnom Penh, Cambodia. With the global economic landscape shift, Asean and India need to work more closely to explore new sources of growth and prosperity. Although trade growth both in India and Asean, in recent months has faltered due to the Covid-19 pandemic and the trade policy uncertainties, there is still untapped potential for further enhancing Asean-India trade. Upgrading the Asean-India FTA and its effective utilisation may perhaps add the required momentum to the bilateral trade flows while promoting sustainable and inclusive growth for both Asean and India. India’s Trade with Asean 2010-11 2021-22 Growth Export 25.63 42.33 5.15 Import 30.61 68.07 8.32 Balance of Trade -4.98 -25.75 17.85 Note: *compound annual growth rate Source: Author’s calculation based on Export-Import Data Bank, Department of Commerce, India Second, another great opportunity to scale up the Asean-India engagements is the development of market-driven production networks.

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