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Informist, Friday, Sept. 25, 2026

 

NEW DELHI – India has reiterated its commitment to ensure that the outcome of the review of the Association of Southeast Asian Nations-India Trade In Goods Agreement is mutually beneficial, calling to make the agreement balanced, more effective, user-friendly and trade facilitative for businesses, the commerce ministry said in a press release Thursday. The commitment was made at the 23rd ASEAN-India Economic Ministers Consultation, attended by Additional Secretary, Department of Commerce, Nitin Kumar Yadav.

 

Yadav led the Indian delegation and participated in the ASEAN-India Economic Ministers Consultation as well as the 14th East Asia Summit Economic Ministers' Meeting, held in Manila, Philippines. Economic ministers or their representatives from all 11 ASEAN countries--Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste and Vietnam--participated in the meetings along with East Asia Summit partners, including India, Australia, China, Japan, New Zealand, Korea, Russia and the US.

 

The discussions placed particular focus on the ongoing review of the ASEAN-India Trade In Goods Agreement, which is aimed at facilitating enhanced trade flows and addressing existing trade asymmetries. India and ASEAN in 2023 decided to meet quarterly for negotiations to review the trade agreement. In July, during its 13th meeting, negotiators from India and ASEAN had urged their teams to expedite the finalisation of the outstanding chapters under the review.

 

"India stressed its continued commitment to fostering strong trade partnerships and ensuring that regional trade agreements are mutually beneficial," the ministry said. The ASEAN-India Trade In Goods Agreement came into force in 2010. While the total trade between India and ASEAN has increased substantially since the signing of the trade deal, it is primarily on account of higher imports to India. Thus, through the review of the agreement, New Delhi seeks to address its widening trade imbalance with the bloc.

 

In 2025–26 (Apr-Mar), bilateral trade between India and ASEAN was worth $128.38 billion, with India's exports amounting to around $38 billion and imports to almost $90 billion. ASEAN accounts for 10.55% of India's total global trade.

 

On the sidelines of the meetings Tuesday, the Indian delegation interacted with Indian businesses operating in the Philippines and discussed the issues faced by them while exporting commodities and services. The delegation also participated in the ASEAN-India Business Forum 2026, organised on Wednesday, it said. 

 

The meetings facilitated an exchange of perspectives on prevailing regional and global economic developments. The ASEAN Secretariat provided a briefing on the regional and global economic outlook for 2027, including the anticipated implications for trade and investment flows, according to the ministry. End

 

US$1 = INR 95.96

 

Reported by Pratiksha

Edited by Akul Nishant Akhoury

 

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