Answer: ASEAN group is the 4th largest trading partner of India. India and 10
member bloc ASEAN trade is already touching 80 billion USD. Once the
FTA in service & investment is in place, two way trade is expected
to cross the 100 Billion USD and support the India economic growth.
FTA in Goods was signed in 2009 that benefitted the ASEAN countries
more due to their competitive advantage. India growth story has been led
by service sector. In wake of Visa issues & sluggish economic
growth in traditional export market (EU& US), India-FTA agreement
will open new export markets for India service industry such as IT,
telecommunication, e-commerce etc. FTA agreement will also make the
flow of Indian origin people to the ASEAN that will includes contractual
service suppliers and individual professionals in fields of accounting,
architecture, engineering services, medical and pharmacy, management
consulting etc.
FTA also will open up investment opportunity for Indian companies in area like Information & communication technology, automobiles, Pharmaceuticals. ASEAN countries are better positioned to provide construction, engineering, transportation services that can benefit Indian economy. ASEAN investment in Indian energy, transport and logistics sector will help to reduce the infrastructure deficit in the country.
FTA also will open up investment opportunity for Indian companies in area like Information & communication technology, automobiles, Pharmaceuticals. ASEAN countries are better positioned to provide construction, engineering, transportation services that can benefit Indian economy. ASEAN investment in Indian energy, transport and logistics sector will help to reduce the infrastructure deficit in the country.
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