indian rupees
At 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 Southeast Asian Nations (ASEAN) during the April-October period of the current financial year. Issuing a statement on Saturday, it was said that with a 5.2 per cent increase in bilateral trade between India and ASEAN countries, the total trade has increased by $73 billion i.e. around 6,16,400 crores.
Businesses worth 121 billion dollars were done
According to data from the Ministry of Commerce and Industry, bilateral trade between India and ASEAN stood at $121 billion in financial year 23-24. As a group, ASEAN has been one of India’s largest trading partners, accounting for around 11 per cent of India’s total global trade.
These countries participated in the meeting.
The sixth meeting of the AITIGA Joint Committee was held in New Delhi from 15 to 22 November. Representatives of the 10 ASEAN countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam participated in the ASEAN program at this meeting.
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A separate session was organized to promote mutual understanding on key issues to enhance trade between India and ASEAN countries. According to a statement from the ministry, “The AITIGA review will be a step forward towards improving trade with the ASEAN region in a sustainable manner. “The next AITIGA Joint Committee meeting will be held in Jakarta, Indonesia in February 2025.” 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.
