In the AITIGA meeting held in New Delhi, the Government of India said that there has been an increase in India’s bilateral trade with the Association of South-East Asian Nations (ASEAN) during the April-October period of the current financial year. Issuing a statement on Saturday, it was said that with an increase of 5.2 percent in bilateral trade between India and ASEAN countries, the total trade has increased by 73 billion dollars i.e. about Rs 6,16,400 crore.
Business worth 121 billion dollars was done
According to data from the Ministry of Commerce and Industry, bilateral trade between India and ASEAN was $ 121 billion for the financial year 23-24. As a group, ASEAN has been one of India’s major trading partners, accounting for about 11 percent of India’s total global trade.
These countries participated in the meeting
The sixth meeting of the Joint Committee of AITIGA was held in New Delhi from 15 to 22 November. In this meeting, representatives of all 10 ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam participated in the ASEAN program.
A separate session was organized to promote mutual understanding on key topics to enhance trade between India and ASEAN countries. According to a statement from the ministry, “The review of AITIGA will be a step forward towards enhancing trade with the ASEAN region in a sustainable manner. “The next meeting of the AITIGA Joint Committee will be held in Jakarta, Indonesia in February 2025.”
Support of 8 sub committees to AITIGA committee
The AITIGA Joint Committee is supported by eight sub-committees, each of which is responsible for negotiating different important aspects of trade between ASEAN and India.
