Indian government will be signing two trade agreements with two major trade blocks in next six months. India will free trade agreements with European Union (EU) and Association of South East Asian Nations (ASEAN). India will formalize India-EU Trade and Investment agreement by beginning of next year. The agreement is expected to double the Indo-EU trade to Euro100 Bn in next five years.
Similarly, India is also expected to sign free trade agreement with ASEAN for trade in goods. This agreement will be signed during India-ASEAN summit and it will also base for commencing talks on agreement in investments and services. India already had a FTA with one of the ASEAN member, Thailand. India already has trade imbalance with ASEAN block. India’s exports to ASEAN for last financial year stood at USD16 Bn, while’s India’s imports from ASEAN nations stood at USD24 Bn.
India already has trade imbalance with ASEAN and post FTA regime is expected to widen this gap. But, India expects boost its position through the trade agreement as it is facing stiff competition from countries like China.
Similarly, India is also expected to sign free trade agreement with ASEAN for trade in goods. This agreement will be signed during India-ASEAN summit and it will also base for commencing talks on agreement in investments and services. India already had a FTA with one of the ASEAN member, Thailand. India already has trade imbalance with ASEAN block. India’s exports to ASEAN for last financial year stood at USD16 Bn, while’s India’s imports from ASEAN nations stood at USD24 Bn.
India already has trade imbalance with ASEAN and post FTA regime is expected to widen this gap. But, India expects boost its position through the trade agreement as it is facing stiff competition from countries like China.
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