New Delhi: An Indian junior minister has called for a review of a free trade agreement with Asean, to reduce India’s US$24 billion trade deficit with the region.
“India’s annual trade deficit with Asean is close to US$24 billion . The reasons are multiple and I would like in the coming months and years to see this trade deficit narrowed,” the minister said. He said a review of the Asean-India Free Trade Agreement would have the potential to double trade between India and the 10-member Southeast Asian bloc, according to a press release issued by the conference’s organiser Confederation of Indian Industry .The minister’s remarks reflect India’s growing dissatisfaction with the existing FTAs.
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