ASEAN-India Free Trade Agreement (AIFTA) Review
The ASEAN-India Free Trade Agreement (AIFTA), initiated in 2010, has prompted a review to address growing trade imbalances. India granted ASEAN countries greater market access, leading to a significant trade deficit. Tariff reduction disparities and ASEAN’s strong manufacturing edge have intensified these challenges. The rise of RCEP further strained India’s trade position. To counter these issues, India plans to renegotiate AIFTA, enforce stricter rules of origin, and promote the Make-in-India initiative to bolster domestic manufacturing and competitiveness. These efforts aim to create a balanced and equitable trade framework for India and ASEAN nations.
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