📝 India and South East Asia
🔸Myanmar: The Gateway to South East AsiaIndia-Myanmar Relations
🔸 India shares a long land border of over 1600 Km with Myanmar (previously known as Burma) as well as a maritime boundary in the Bay of Bengal. Four north-eastern states
(Arunachal Pradesh, Nagaland, Manipur and Mizoram) share boundary with Myanmar.
🔸India and Myanmar share close cultural ties and a sense of deep kinship given India's Buddhist heritage.
🔸 Over a period of 62 years (1824-1886), Britain conquered Burma and incorporated the country into its Indian Empire. Burma was administered as a province of India until 1937
🔸 There are varying estimates of 1.5-2.5 million people of Indian origin living and working in various parts of Myanmar
🔸Myanmar is the only ASEAN country adjoining India and,therefore, India’s gateway to South East Asia with which we are seeking greater economic integration through India's 'Look East' and now 'Act East' Policy.
🔸Myanmar: The Gateway to South East AsiaIndia-Myanmar Relations
🔸 India shares a long land border of over 1600 Km with Myanmar (previously known as Burma) as well as a maritime boundary in the Bay of Bengal. Four north-eastern states
(Arunachal Pradesh, Nagaland, Manipur and Mizoram) share boundary with Myanmar.
🔸India and Myanmar share close cultural ties and a sense of deep kinship given India's Buddhist heritage.
🔸 Over a period of 62 years (1824-1886), Britain conquered Burma and incorporated the country into its Indian Empire. Burma was administered as a province of India until 1937
🔸 There are varying estimates of 1.5-2.5 million people of Indian origin living and working in various parts of Myanmar
🔸Myanmar is the only ASEAN country adjoining India and,therefore, India’s gateway to South East Asia with which we are seeking greater economic integration through India's 'Look East' and now 'Act East' Policy.
📝Kaladan Multi Modal Transit Transport Project
🔸The project includes a waterways component of 158 km on Kaladan river from Sittwe to Paletwa in Myanmar and a road component of 109 km from Paletwa to Zorinpui on the India-Myanmar border . The waterways component comprises Sittwe Port,Inland Water Transport (IWT) terminals, backup facilities and navigational channel.
🔸Mooted in 2003, India entered a framework agreement with Myanmar for Kaladan project in 2008. Construction began in 2010 with a deadline in June 2015. However, the project faced delays especially on the road project.
🔸The project is being implemented with GoI’s grant assistance under the head of ‘Aid to Myanmar
🔸By Early 2017, Under waterways component, Port and Inland Water Transport (IWT) terminal at Sittwe and related infrastructure/back up facilities; IWT/trans-shipment terminal and related facilities at Paletwa; navigational channel along Kaladan river from Sittwe to Paletwa and six self-propelled IWT vessels have been completed.
🔸The project includes a waterways component of 158 km on Kaladan river from Sittwe to Paletwa in Myanmar and a road component of 109 km from Paletwa to Zorinpui on the India-Myanmar border . The waterways component comprises Sittwe Port,Inland Water Transport (IWT) terminals, backup facilities and navigational channel.
🔸Mooted in 2003, India entered a framework agreement with Myanmar for Kaladan project in 2008. Construction began in 2010 with a deadline in June 2015. However, the project faced delays especially on the road project.
🔸The project is being implemented with GoI’s grant assistance under the head of ‘Aid to Myanmar
🔸By Early 2017, Under waterways component, Port and Inland Water Transport (IWT) terminal at Sittwe and related infrastructure/back up facilities; IWT/trans-shipment terminal and related facilities at Paletwa; navigational channel along Kaladan river from Sittwe to Paletwa and six self-propelled IWT vessels have been completed.
📝 Security status between India and Myanmar
🔸The Indian Armed Forces have traditionally had friendly relations with their Myanmar counterparts.
🔸Both countries face problems of armed separatist groups using each other’s soil.
🔸The KIA, an insurgent group in Myanmar, has backed India’s north-eastern separatist groups such as ULFA and the NSCN (Khaplang), in consultation with government officials in China’s neighbouring Yunnan province.
🔸The Indian Armed Forces have traditionally had friendly relations with their Myanmar counterparts.
🔸Both countries face problems of armed separatist groups using each other’s soil.
🔸The KIA, an insurgent group in Myanmar, has backed India’s north-eastern separatist groups such as ULFA and the NSCN (Khaplang), in consultation with government officials in China’s neighbouring Yunnan province.
📝 Bilateral Cooperation in Regional/Sub-Regional Context
🔸Myanmar's membership of ASEAN, BIMSTEC and Mekong Ganga Cooperation has introduced a regional/sub-regional dimension to bilateral relations and imparted added significance in the context of our "Act East" policy.
🔸Myanmar has generally been supportive of India's stand to various international organisations.
🔸India supported the inclusion of Myanmar as an observer in SAARC in 2008
🔸Myanmar's membership of ASEAN, BIMSTEC and Mekong Ganga Cooperation has introduced a regional/sub-regional dimension to bilateral relations and imparted added significance in the context of our "Act East" policy.
🔸Myanmar has generally been supportive of India's stand to various international organisations.
🔸India supported the inclusion of Myanmar as an observer in SAARC in 2008
📝Chinese Involvement in Myanmar
🔸 Large Chinese infrastructure and mining projects in Myanmar have come up since the early 1990s, with scant regard for environmental degradation and displacement.
🔸China has increased its economic profile in the country in recent times pushing for a special economic zone at Kyauk Phyu among other projects. The special economic zone, expected to cover more than 4,200 acres (17 sq. km), includes the $7.3 billion deep sea port and a $2.3 billion industrial park, with plans to attract industries such as textiles and oil refining, a Reuters report said.
🔸It also used short-sighted western aid policies to acquire considerable leverage within Myanmar.
🔸 China now has an ability to significantly influence Myanmar insurgent groups such as the
United WA State Army (UWSA) and Kachin Independence Army (KIA).
🔸 Its navy recently held joint exercises along Myanmar’s shores.
🔸 Large Chinese infrastructure and mining projects in Myanmar have come up since the early 1990s, with scant regard for environmental degradation and displacement.
🔸China has increased its economic profile in the country in recent times pushing for a special economic zone at Kyauk Phyu among other projects. The special economic zone, expected to cover more than 4,200 acres (17 sq. km), includes the $7.3 billion deep sea port and a $2.3 billion industrial park, with plans to attract industries such as textiles and oil refining, a Reuters report said.
🔸It also used short-sighted western aid policies to acquire considerable leverage within Myanmar.
🔸 China now has an ability to significantly influence Myanmar insurgent groups such as the
United WA State Army (UWSA) and Kachin Independence Army (KIA).
🔸 Its navy recently held joint exercises along Myanmar’s shores.
India and Australia Trade
The India-Australia Comprehensive Strategic Partnership initiated during the India-Australia Leaders’ Virtual Summit.
Growing India-Australia economic and commercial relations contribute to the stability and strength of a rapidly diversifying and deepening bilateral relationship between the two countries.
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade for both merchandise and services is valued at US$ 27.5 billion in 2021.
India’s merchandise exports to Australia grew 135% between 2019 and 2021.
India’s exports consist primarily of a broad-based basket largely of finished products and were US$ 6.9 billion in 2021.
India’s merchandise imports from Australia were US$ 15.1 billion in 2021, consisting largely of raw materials, minerals and intermediate goods.
The India-Australia Comprehensive Strategic Partnership initiated during the India-Australia Leaders’ Virtual Summit.
Growing India-Australia economic and commercial relations contribute to the stability and strength of a rapidly diversifying and deepening bilateral relationship between the two countries.
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade for both merchandise and services is valued at US$ 27.5 billion in 2021.
India’s merchandise exports to Australia grew 135% between 2019 and 2021.
India’s exports consist primarily of a broad-based basket largely of finished products and were US$ 6.9 billion in 2021.
India’s merchandise imports from Australia were US$ 15.1 billion in 2021, consisting largely of raw materials, minerals and intermediate goods.
📝 Significance of Myanmar
🔸 Myanmar is seen as a crucial partner in the fight to end insurgency in India’s north-east,
🔸 as a gateway to South-East Asia and
🔸a key component of new vision for South and South-East Asian regional cooperation and India’s Act East Policy.
🔸 It has significant hydrocarbon resources
🔸 It is also a neighbor that is increasingly being wooed by China.
🔸 Myanmar is seen as a crucial partner in the fight to end insurgency in India’s north-east,
🔸 as a gateway to South-East Asia and
🔸a key component of new vision for South and South-East Asian regional cooperation and India’s Act East Policy.
🔸 It has significant hydrocarbon resources
🔸 It is also a neighbor that is increasingly being wooed by China.
📝 BIMSTEC
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
🔸 India’s strategy is to bridge south and South-East Asia. In this context groupings such as the BIMSTEC and Mekong Ganaga Cooperation are significant.
🔸The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) formed in 1997.
🔸 It comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, and brings together 1.5 billion people or 21% of the world population and a combined gross
domestic product (GDP) of over $2.5 trillion.
🔸 For India, making BIMSTEC work is important as for years it had blamed Pakistan for holding
back the SAARC.
🔸India’s leadership in activating the BIMSTEC was evident in the BRICS-BIMSTEC outreach hosted in Goa in 2016.
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
🔸 India’s strategy is to bridge south and South-East Asia. In this context groupings such as the BIMSTEC and Mekong Ganaga Cooperation are significant.
🔸The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) formed in 1997.
🔸 It comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, and brings together 1.5 billion people or 21% of the world population and a combined gross
domestic product (GDP) of over $2.5 trillion.
🔸 For India, making BIMSTEC work is important as for years it had blamed Pakistan for holding
back the SAARC.
🔸India’s leadership in activating the BIMSTEC was evident in the BRICS-BIMSTEC outreach hosted in Goa in 2016.
📝 Mekong-Ganga Cooperation
🔸 The Mekong-Ganga Cooperation (MGC) is an initiative by six countries – India and five ASEAN countries, namely, Cambodia, Lao PDR, Myanmar, Thailand and Vietnam for cooperation in tourism, culture, education, as well as transport and communications.
🔸It was launched in 2000 at Vientiane, Lao PDR. Both the Ganga and the Mekong are civilizational rivers, and the MGC initiative aims to facilitate closer contacts among the
people inhabiting these two major river basins. The MGC is also indicative of the cultural and commercial linkages among the member countries of the MGC down the centuries.
🔸Indian drafted a Plan of Action (POA) 2016-18 which was endorsed to become the core guideline for future action. On the future direction of MGC, it was recommended that POA 2016-18 may be continued.
🔸 The Mekong-Ganga Cooperation (MGC) is an initiative by six countries – India and five ASEAN countries, namely, Cambodia, Lao PDR, Myanmar, Thailand and Vietnam for cooperation in tourism, culture, education, as well as transport and communications.
🔸It was launched in 2000 at Vientiane, Lao PDR. Both the Ganga and the Mekong are civilizational rivers, and the MGC initiative aims to facilitate closer contacts among the
people inhabiting these two major river basins. The MGC is also indicative of the cultural and commercial linkages among the member countries of the MGC down the centuries.
🔸Indian drafted a Plan of Action (POA) 2016-18 which was endorsed to become the core guideline for future action. On the future direction of MGC, it was recommended that POA 2016-18 may be continued.
📝 Mekong-Ganga Cooperation Part 2
🔸 In 1976, the members signed the Treaty of Amity and Cooperation, emphasizing ASEAN’s promotion of peace, friendship, and cooperation to build solidarity.
🔸 The members signed a deal in 1995 to create a nuclear-free zone in Southeast Asia
🔸It has evolved into a regional grouping that promotes economic, political, and security cooperation among its members.
🔸10 States are part of the ASEAN (Myanmar, Thailand, Laos, Cambodia, Vietnam, Malaysia,Singapore, Indonesia, Brunei, Philipines). East Timor is an observer state.
🔸 It’s secretariat is based in Jakarta.
🔸 ASEAN is chaired by an annually rotating presidency. Decisions are reached through consultation and consensus guided by the principles of noninterference in internal affairs and the peaceful resolution of conflicts.
🔸 In 2007, the ten members adopted the ASEAN Charter
🔸 In 1976, the members signed the Treaty of Amity and Cooperation, emphasizing ASEAN’s promotion of peace, friendship, and cooperation to build solidarity.
🔸 The members signed a deal in 1995 to create a nuclear-free zone in Southeast Asia
🔸It has evolved into a regional grouping that promotes economic, political, and security cooperation among its members.
🔸10 States are part of the ASEAN (Myanmar, Thailand, Laos, Cambodia, Vietnam, Malaysia,Singapore, Indonesia, Brunei, Philipines). East Timor is an observer state.
🔸 It’s secretariat is based in Jakarta.
🔸 ASEAN is chaired by an annually rotating presidency. Decisions are reached through consultation and consensus guided by the principles of noninterference in internal affairs and the peaceful resolution of conflicts.
🔸 In 2007, the ten members adopted the ASEAN Charter
📝 ASEAN Regional Forum (ARF)
🔸 the twenty-seven-member multilateral grouping was developed to facilitate cooperation on political and security issues to contribute to regional confidence-building and preventive diplomacy.
🔸 First meeting Held at Bangkok, Thailand, in 1994.
🔸 It includes ASEAN and 10 dialogue partners i.e Australia, Canada, China, the European
Union, India, Japan, South Korea, Russia, New Zealand, and the United States. Also included are the Papua New Guinea, Democratic People’s Republic of Korea, Mongolia, Pakistan,Timor-Leste, Bangladesh and Sri Lanka.
🔸Unique among international organizations of its type, the ARF is characterized by minimal institutionalization, decision making by consensus, and the use of both “first track” (official) and “second track” (nonofficial) diplomacy.
🔸 the twenty-seven-member multilateral grouping was developed to facilitate cooperation on political and security issues to contribute to regional confidence-building and preventive diplomacy.
🔸 First meeting Held at Bangkok, Thailand, in 1994.
🔸 It includes ASEAN and 10 dialogue partners i.e Australia, Canada, China, the European
Union, India, Japan, South Korea, Russia, New Zealand, and the United States. Also included are the Papua New Guinea, Democratic People’s Republic of Korea, Mongolia, Pakistan,Timor-Leste, Bangladesh and Sri Lanka.
🔸Unique among international organizations of its type, the ARF is characterized by minimal institutionalization, decision making by consensus, and the use of both “first track” (official) and “second track” (nonofficial) diplomacy.
📝 East Asia Summit (EAS)
🔸Established in 2005, EAS is a unique Leaders-led forum of 18 (10+8). It seeks to promote security and prosperity in the region and is usually attended by the heads of state from ASEAN, Australia, China, India, Japan, New Zealand, Russia, South Korea, and the United States.
🔸 It has evolved as a forum for strategic dialogue and cooperation on political, security and economic issues of common regional concern and plays an important role in the regional architecture.
🔸Established in 2005, EAS is a unique Leaders-led forum of 18 (10+8). It seeks to promote security and prosperity in the region and is usually attended by the heads of state from ASEAN, Australia, China, India, Japan, New Zealand, Russia, South Korea, and the United States.
🔸 It has evolved as a forum for strategic dialogue and cooperation on political, security and economic issues of common regional concern and plays an important role in the regional architecture.
📝ASEAN+3
🔸 The ASEAN Plus Three (APT) cooperation process began in December 1997 with the convening of an Informal Summit among the Leaders of ASEAN and China, Japan and the South Korea.
🔸The APT Summit was institutionalised in 1999 when the Leaders issued a Joint Statement on East Asia Cooperation at the Third APT Summit in Manila.
🔸 The ASEAN Plus Three (APT) cooperation process began in December 1997 with the convening of an Informal Summit among the Leaders of ASEAN and China, Japan and the South Korea.
🔸The APT Summit was institutionalised in 1999 when the Leaders issued a Joint Statement on East Asia Cooperation at the Third APT Summit in Manila.
📝 India and South East Asia
🔶 Background
🔸 India and South East Asia have age old cultural and civilisation ties. Hinduism, Buddhism and Islam spread from India to the region and the imprint of this shared cultural heritage is also seen in art forms and architecture.
🔸Geography played an important role in the maritime connectivity through the Monsoon.
🔸British colonial period saw many from India to migrate to the region and the Indian National Army received support from this region.
🔸Cold war period saw estrangement as the region came under the American influence and India charted its own path. Nonetheless Indonesia was an important part of the NAM.
🔸 The End of Cold war brought new orientation and India moved ahead with the “ Look East Policy” to cement ties with the region
🔶 Background
🔸 India and South East Asia have age old cultural and civilisation ties. Hinduism, Buddhism and Islam spread from India to the region and the imprint of this shared cultural heritage is also seen in art forms and architecture.
🔸Geography played an important role in the maritime connectivity through the Monsoon.
🔸British colonial period saw many from India to migrate to the region and the Indian National Army received support from this region.
🔸Cold war period saw estrangement as the region came under the American influence and India charted its own path. Nonetheless Indonesia was an important part of the NAM.
🔸 The End of Cold war brought new orientation and India moved ahead with the “ Look East Policy” to cement ties with the region
📝The Look East Policy
🔸Under PM Narasimha Rao & finance minister Manmohan Singh, India initiated upon the “look east policy”-The principal aim of the policy was to pursue a policy of active engagement with countries of South East Asia. Primary focus of this policy was the fast growing economies of Association of Southeast Asian Nations and its member-countries, particularly Malaysia, Singapore, Thailand, Indonesia and Myanmar.
Factors responsible for India’s Look East Policy:
🔸Collapse of Soviet Union- the collapse of India’s long term ally left India isolated on the International arena. Moreover,the gulf crisis, the spike in oil prices, the collapse of rupee-rubal agreement, all left India on its own, without an ally on the international scene.This made search for new partners imperative.
🔸Balance of Payment crisis-The BoP crisis & the conditions imposed upon it for obtaining loans from IMF resulted in India opening up its market by reducing tariffs to the world.Thus providing a ready market for goods.
🔸Under PM Narasimha Rao & finance minister Manmohan Singh, India initiated upon the “look east policy”-The principal aim of the policy was to pursue a policy of active engagement with countries of South East Asia. Primary focus of this policy was the fast growing economies of Association of Southeast Asian Nations and its member-countries, particularly Malaysia, Singapore, Thailand, Indonesia and Myanmar.
Factors responsible for India’s Look East Policy:
🔸Collapse of Soviet Union- the collapse of India’s long term ally left India isolated on the International arena. Moreover,the gulf crisis, the spike in oil prices, the collapse of rupee-rubal agreement, all left India on its own, without an ally on the international scene.This made search for new partners imperative.
🔸Balance of Payment crisis-The BoP crisis & the conditions imposed upon it for obtaining loans from IMF resulted in India opening up its market by reducing tariffs to the world.Thus providing a ready market for goods.
📝The Act East: Action and Implementation
🔶Oriented Approach to a Wider
East
🔸The Look East Policy has today matured into a dynamic and action oriented ‘Act East Policy PM at the 12th ASEAN India Summit and the 9th East Asia Summit held in Nay Pyi Taw,Myanmar, in November, 2014, formally enunciated the Act East Policy.
🔸 India's Act East Policy focusses on the extended neighbourhood in the Asia-Pacific region.
🔸The policy which was originally conceived as an economic initiative, has gained political,strategic and cultural dimensions including establishment of institutional mechanisms for dialogue and cooperation.
🔸India has upgraded its relations to strategic partnership with Indonesia, Vietnam,Malaysia, Japan, Republic of Korea (ROK), Australia, Singapore and Association of Southeast Asian Nations (ASEAN) and forged close ties with all countries in the Asia-Pacific region.
🔶Oriented Approach to a Wider
East
🔸The Look East Policy has today matured into a dynamic and action oriented ‘Act East Policy PM at the 12th ASEAN India Summit and the 9th East Asia Summit held in Nay Pyi Taw,Myanmar, in November, 2014, formally enunciated the Act East Policy.
🔸 India's Act East Policy focusses on the extended neighbourhood in the Asia-Pacific region.
🔸The policy which was originally conceived as an economic initiative, has gained political,strategic and cultural dimensions including establishment of institutional mechanisms for dialogue and cooperation.
🔸India has upgraded its relations to strategic partnership with Indonesia, Vietnam,Malaysia, Japan, Republic of Korea (ROK), Australia, Singapore and Association of Southeast Asian Nations (ASEAN) and forged close ties with all countries in the Asia-Pacific region.
📝 India-Asean
🔸 India's relationship with ASEAN is a key pillar of our foreign policy and the foundation of our Act East Policy.
🔸 The up-gradation of the relationship into a Strategic Partnership in 2012 was a natural progression to the ground covered.
🔸 India became a Sectoral Partner of the ASEAN in 1992, Dialogue Partner in 1996 and Summit Level Partner in 2002.
🔸 There are, in total, 30 Dialogue Mechanisms between India and ASEAN, cutting across various sectors.
🔸 India's relationship with ASEAN is a key pillar of our foreign policy and the foundation of our Act East Policy.
🔸 The up-gradation of the relationship into a Strategic Partnership in 2012 was a natural progression to the ground covered.
🔸 India became a Sectoral Partner of the ASEAN in 1992, Dialogue Partner in 1996 and Summit Level Partner in 2002.
🔸 There are, in total, 30 Dialogue Mechanisms between India and ASEAN, cutting across various sectors.
📝 India-ASEAN: Recent Developments
🔸 India hosted leaders of the 10 ASEAN nations ASEAN-India Commemorative Summit to mark the 25th Anniversary of ASEAN-India Dialogue Relations in January 2018. This occasion marked the release of Delhi declaration.
🔸In November 2017 PM participated in the 15th ASEAN-India Summit on the sideline of the 31st ASEAN Summit in Manila.
🔸The ASEAN-India connectivity summit in Delhi from December 11-12 2017 saw participation from all the 10 ASEAN countries along with Japan.
🔸The summit also focused on ensuring better digital connectivity as the government looks to align its initiative with ASEAN's Master Plan on Connectivity, 2025, which centres on five strategic areas:
▫️sustainable infrastructure,
▫️ digital innovation,
▫️seamless logistics,
▫️ regulatory excellence and
▫️people’s mobility.
🔸 India hosted leaders of the 10 ASEAN nations ASEAN-India Commemorative Summit to mark the 25th Anniversary of ASEAN-India Dialogue Relations in January 2018. This occasion marked the release of Delhi declaration.
🔸In November 2017 PM participated in the 15th ASEAN-India Summit on the sideline of the 31st ASEAN Summit in Manila.
🔸The ASEAN-India connectivity summit in Delhi from December 11-12 2017 saw participation from all the 10 ASEAN countries along with Japan.
🔸The summit also focused on ensuring better digital connectivity as the government looks to align its initiative with ASEAN's Master Plan on Connectivity, 2025, which centres on five strategic areas:
▫️sustainable infrastructure,
▫️ digital innovation,
▫️seamless logistics,
▫️ regulatory excellence and
▫️people’s mobility.
📝India-Asean Trade Status
🔸India-ASEAN trade and investment relations have been growing steadily.
🔸ASEAN is India's fourth largest trading partner.
🔸 India's trade with ASEAN has increased to US$ 70 billion in 2016-17 from US$ 65 billion in 2015-16.
🔸 India's export to ASEAN has increased to US$ 31.07 billion in 2016-17 from US$ 25 billion in 2015-16.
🔸 India’s import to ASEAN increased by 1.8% in 2016-17 vis-à-vis 2015-16 and stood at US$ 40.63 billion.
🔸 The trade represents 10.85% of India’s total trade with the world.
🔸India-ASEAN trade and investment relations have been growing steadily.
🔸ASEAN is India's fourth largest trading partner.
🔸 India's trade with ASEAN has increased to US$ 70 billion in 2016-17 from US$ 65 billion in 2015-16.
🔸 India's export to ASEAN has increased to US$ 31.07 billion in 2016-17 from US$ 25 billion in 2015-16.
🔸 India’s import to ASEAN increased by 1.8% in 2016-17 vis-à-vis 2015-16 and stood at US$ 40.63 billion.
🔸 The trade represents 10.85% of India’s total trade with the world.
📝India-Asean Investment
🔸Investment flows are also substantial both ways:
🔸With ASEAN accounts for approximately 12.5% of investment flows into India since 2000.
🔸FDI inflows into India from ASEAN between April 2000 to August 2017 was about US$ 514.73 billion,
🔸 FDI outflows from India to ASEAN countries, the from April 2007 to March 2015, as per data maintained by DEA, was about US$38.672 billion.
🔸 The final agreement on ASEAN-India Free Trade Area signed on was on 13 August 2009. The free trade area came into effect on 1 January 2010. ASEAN-India Free Trade Area has been completed with the entering into force of the ASEAN-India Agreements on Trade in Service and Investments on 1 July 2015.
🔸India has setup Project Development Fund with a corpus of INR 500 crores to develop manufacturing hubs in CLMV countries at the 13th ASEAN India Summit held in Malaysia in November 2015.
🔸Investment flows are also substantial both ways:
🔸With ASEAN accounts for approximately 12.5% of investment flows into India since 2000.
🔸FDI inflows into India from ASEAN between April 2000 to August 2017 was about US$ 514.73 billion,
🔸 FDI outflows from India to ASEAN countries, the from April 2007 to March 2015, as per data maintained by DEA, was about US$38.672 billion.
🔸 The final agreement on ASEAN-India Free Trade Area signed on was on 13 August 2009. The free trade area came into effect on 1 January 2010. ASEAN-India Free Trade Area has been completed with the entering into force of the ASEAN-India Agreements on Trade in Service and Investments on 1 July 2015.
🔸India has setup Project Development Fund with a corpus of INR 500 crores to develop manufacturing hubs in CLMV countries at the 13th ASEAN India Summit held in Malaysia in November 2015.
India and Australia Trade
The India-Australia Comprehensive Strategic Partnership initiated during the India-Australia Leaders’ Virtual Summit.
Growing India-Australia economic and commercial relations contribute to the stability and strength of a rapidly diversifying and deepening bilateral relationship between the two countries.
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade for both merchandise and services is valued at US$ 27.5 billion in 2021.
India’s merchandise exports to Australia grew 135% between 2019 and 2021.
India’s exports consist primarily of a broad-based basket largely of finished products and were US$ 6.9 billion in 2021.
India’s merchandise imports from Australia were US$ 15.1 billion in 2021, consisting largely of raw materials, minerals and intermediate goods.
The India-Australia Comprehensive Strategic Partnership initiated during the India-Australia Leaders’ Virtual Summit.
Growing India-Australia economic and commercial relations contribute to the stability and strength of a rapidly diversifying and deepening bilateral relationship between the two countries.
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner.
India-Australia bilateral trade for both merchandise and services is valued at US$ 27.5 billion in 2021.
India’s merchandise exports to Australia grew 135% between 2019 and 2021.
India’s exports consist primarily of a broad-based basket largely of finished products and were US$ 6.9 billion in 2021.
India’s merchandise imports from Australia were US$ 15.1 billion in 2021, consisting largely of raw materials, minerals and intermediate goods.