Author: Nagesh Kumar, RIS

With a combined population of nearly half a billion and GDP of over a trillion dollars, ASEAN countries provide a large market for Indian companies.

The conclusion of India-ASEAN FTA after four years of negotiations in Singapore at the ASEAN EconomicMinisters meeting last week will pave the way for India to play its due role in emerging broader regional architecture in Asia.

India had begun to engage ASEAN since 1992 as a part of the Look East Policy. Look East was perhaps a response to the growing recognition of East Asia’s potential to emerge as the centre of gravity with rapid growth sustained over the past three decades in contrast to rather subdued economic performance of the western world. It also had something to do with the rise of the economics of neighbourhood that was leading to formation of regional trade blocs all over the world from EU to Nafta to Mercosur.

As a part of the Look East, India has evolved a multifaceted partnership with ASEAN and other East Asian and Pacific countries. Read more…