Bilateral trade between India and ASEAN reaches US$121 billion
ASEAN strengthens position as key trade partner in India’s global economic strategy
The Association of Southeast Asian Nations (ASEAN) continues to play a vital role in India’s international trade landscape, contributing approximately 11 per cent to India’s global trade, according to official government data. This is reported by IANS, a partner of TV BRICS.
In the financial year 2023–24, bilateral trade between India and ASEAN reached US$121 billion, underscoring the enduring importance of economic ties between the two sides.
This was confirmed during the 8th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee, held in New Delhi. A central focus of the meeting was advancing the comprehensive review of the ASEAN-India Trade in Goods Agreement aims to modernise the framework to enhance accessibility, efficiency, and trade facilitation for businesses in both regions.
The next round of negotiations is scheduled for June 2025 in Kuala Lumpur, as India and ASEAN continue working towards deeper economic integration and strategic cooperation in the Indo-Pacific.
Photo: iStock
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