• India and the 10-member block of Southeast Asian nations have agreed to review their free trade agreement, signed in 2009, to make it more business-friendly and boost economic ties.
  • Ministers of ASEAN and Commerce Minister agreed to initiate the review of the ASEAN
India trade in goods* agreement to make it more user-friendly, simple, and trade facilitative for businesses.
  • Both the sides also received there commendations of the ASEAN-India business council to further promote the potential of bilateral trade through the utilisation of the free trade pact as well as cooperation in some areas such as
Financial technology, connectivity, start-ups and innovation. *The India-ASEAN trade in goods pact came into force from January 2010.   Read More:  Dip and rise in GDP part of growth: Sitharaman  |  Economic Growth And Development  |  Economic Revival Package