The next round of evaluation talks for the ASEAN– India Trade in Goods Agreement (AITIGA) will be hung on
October 6-7 this year in Jakarta, the federal government stated Friday.
The tenth round of the settlements concluded in New Delhi from August 10-14.
The commerce and market ministry stated that the Joint Committee concentrated on advancing the continuous evaluation of the pact to improve its efficiency, ease of access, and trade assistance abilities.
“The conversations constructed on the development accomplished through 8 active rounds of settlements,” it stated, including that
delegates from all 10 ASEAN Member States– Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam– took part.
ASEAN represents around 11% of India’s international trade.
“Bilateral trade reached $123 billion in FY25, showing the strong financial ties in between the 2 sides and producing chances for boosted cooperation in the years ahead,” it stated.
Singapore trade, financial investment
In a different declaration, the ministry stated that India and Singapore examined the continuous cooperation in semiconductor sector and digitalisation of trade, and checked out possible collaborations in abilities advancement and capability structure.
The problems were used up at the 4th conference of the India-Singapore Joint Working Group on Trade and Investment (JWGTI) which was hung on August 14 in New Delhi.
“The conversations concentrated on recognizing top priority sectors for higher positioning, enhancing logistics and supply chains, improving regulative structures and checking out methods to help with cross-border trade,” the ministry stated.
Singapore is India’s biggest trading partner within ASEAN, with overall bilateral trade of $34.26 billion throughout FY25.
It is likewise India’s second-largest source of foreign direct financial investment with equity inflows of $163.85 billion in between April 2000 and July 2024, representing about 24% of India’s overall inflows.