India hosts 10th AITIGA review meeting in New Delhi
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Mint
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India deepens trade links with Singapore, Asean, amid US tariff headwinds
New Delhi: India is strengthening its economic engagement across Asia, holding trade talks with Singapore and the Association of Southeast Asian Nations (Asean) to expand market access, update trade agreements and enhance cross-border connectivity. The outreach comes as New Delhi braces for the impact of recently announced US reciprocal tariffs on a range of Indian goods, a move that could pressure export earnings in one of the country's largest markets. The measures have also sharpened the government's focus on diversifying trade relationships and deepening ties with fast-growing Asian partners. The commerce ministry said on Friday that India had, a day earlier, hosted the 4th meeting of the India-Singapore Joint Working Group on Trade & Investment (JWGTI), where senior officials discussed trade facilitation, investment promotion, supply-chain resilience and regulatory streamlining. The talks, co-chaired by Rajesh Agrawal, India's special secretary in the commerce department, and Beh Swan Gin, Singapore's permanent secretary for trade and industry, came as the two countries marked 60 years of diplomatic relations and 20 years of their Comprehensive Economic Cooperation Agreement (CECA). The JWGTI followed a ministerial roundtable between the two nations a day earlier, reinforcing Singapore's role as a regional trade and investment hub and India's position as one of the fastest-growing large economies, the commerce ministry said. 'Discussions during the JWGTI focused on deepening bilateral trade and investment ties, identifying priority sectors for greater alignment, improving logistics and supply chains, streamlining regulatory frameworks, and exploring ways to facilitate cross-border trade,' it added. At the same city, from 10 to 14 August, India hosted the tenth meeting of the Asean-India Trade in Goods Agreement (AITIGA) joint committee, alongside seven sub-committee sessions aimed at updating the 15-year-old pact. Co-chaired by Nitin Kumar Yadav, India's additional secretary in the commerce department, and Mastura Ahmad Mustafa, Malaysia's deputy secretary general for trade, the discussions built on eight previous negotiating rounds. The review aims to make AITIGA more effective, accessible, and conducive to trade, with technical discussions covering customs procedures, market access, sanitary and phytosanitary measures, rules of origin, technical standards, and trade remedies, the commerce ministry said. To be sure, the Asean bloc and Singapore remain key trading partners for India. In FY25, India's goods exports to Asean, of which Singapore is a member, fell 5.45% year-on-year to $38.96 billion, while imports rose 5.64% to $84.16 billion, according to commerce ministry data. The next AITIGA joint committee meeting will be held on 6-7 October at the Asean Secretariat in Jakarta, Indonesia, with Malaysia as the host. According to the data, Singapore is India's largest trading partner within Asean, with total bilateral trade of $34.26 billion during 2024-25. It is also India's second-largest source of foreign direct investment, with equity inflows of $163.85 billion ( ₹ 11.24 trillion) between April 2000 and July 2024, accounting for about 24% of India's cumulative inflows.
Hans India
an hour ago
- Hans India
ASEAN nations contribute 11 pc in India's global trade: Ministry
New Delhi: ASEAN remains a key trade partner for India, accounting for around 11 per cent of the country's global trade, the Ministry of Commerce and Industry said on Friday. Bilateral trade between India and the ten ASEAN member nations reached an impressive USD 123 billion in 2024-25, underscoring the deep economic linkages and the vast potential for future collaboration. India hosted the 10th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related meetings at Vanijya Bhawan, New Delhi, from August 10 to 14. Delegates from all ten ASEAN countries - Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam - took part in the discussions, which focused on reviewing and modernising the AITIGA. The meeting aimed to make the agreement more effective, more accessible, and better equipped to facilitate trade in an evolving global economy. Building on the momentum from eight rounds of negotiations already completed, the Joint Committee explored ways to streamline procedures, remove bottlenecks, and align regulations. The high-level meeting, conducted in a hybrid format, brought together senior officials and trade experts from across the region. Alongside the main sessions, seven of the eight AITIGA Sub-Committees convened to dive deeper into specialised areas, including customs procedures, market access, sanitary and phytosanitary measures, rules of origin, technical standards, legal frameworks, and trade remedies. According to the Ministry, these targeted meetings allowed for intensive work on complex issues, ensuring that any updates to AITIGA will reflect both technical rigour and the shared vision of member nations. The week-long deliberations reaffirmed the strategic importance of ASEAN-India economic relations and laid the groundwork for more open, predictable, and mutually beneficial trade. The dialogue will continue when the Joint Committee meets again on October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia, in a session hosted by Malaysia, the ministry said. The sessions were co-chaired by Nitin Kumar Yadav, Additional Secretary in India's Department of Commerce, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade) at Malaysia's Ministry of Investment, Trade & Industry.
News18
3 hours ago
- News18
India hosts 10th AITIGA review meeting in New Delhi
New Delhi [India], August 15 (ANI): India hosted the 10th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related sessions at Vanijya Bhawan, New Delhi, from August 10 to 14, 2025, according to a Ministry of Commerce and Industry statement. The gathering brought together delegates from all ten ASEAN member states to push forward the review of the 14-year-old trade meetings, held in a hybrid format, were co-chaired by Nitin Kumar Yadav, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade), Ministry of Investment, Trade & Industry, Malaysia. Representatives from Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam the heart of the discussions was the ongoing review of AITIGA, aimed at improving its effectiveness, accessibility, and trade facilitation capabilities. This review builds on the progress from eight previous rounds of of the eight sub-committees under the AITIGA joint committee also convened alongside the main meeting. These included the sub-committee on Customs Procedures and Trade Facilitation (SC-CPTF), Legal and Institutional Issues (SC-LII), National Treatment and Market Access (SC-NTMA), Sanitary and Phytosanitary (SC-SPS), Rules of Origin (SC-ROO), Standards, Technical Regulations and Conformity Assessment Procedures (SC-STRACAP), and Trade Remedies (SC-TR). Their deliberations addressed technical issues ranging from product standards to customs processes, forming the groundwork for the main committee's continues to be a major trade partner for India, accounting for roughly 11 per cent of the country's global trade. Bilateral trade between India and ASEAN stood at USD 123 billion in 2024-25, underlining the scale and potential of the next AITIGA Joint Committee meeting is set for October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia, with Malaysia as host. The outcomes of the New Delhi talks will form the basis for the next phase of negotiations. (ANI)
