India-ASEAN FTA: Present Imperfect, Future Tense Amid $44 Billion Trade Deficit

Volatile geopolitics and growing trade wars have created an opening for a serious, proactive review of the India-ASEAN free trade agreement to unlock the full potential of trade and commerce.

The AITIGA, established in 2009 and implemented between 2010 and 2011, has been a significant milestone in the economic relationship between India and the ASEAN region.

Source : Freepik

Even as Prime Minister Narendra Modi emphasised the need for an early review of the free trade agreement between India and the 10-nation ASEAN grouping (AITIGA) during his virtual presence at the 22nd ASEAN summit taking place in Malaysia, the years of drag on the much-sought review of the FTA have never been more stark. Neither has the imperative of unleashing the full economic potential of the relationship amidst intensifying tariff-related tensions and trade uncertainties been more pressing.