India became ASEAN Dialogue Partner in 1996. Preliminary ASEAN data showed that two-way merchandise trade between ASEAN and India reached USD 77.0 billion in 2019, while total FDI inflows from India amounted to USD 2.0 billion. This placed India as ASEAN’s sixth largest trading partner and eight largest sources of FDI among ASEAN Dialogue Partners. At the 2nd ASEAN-India Summit in 2003, the Leaders signed the ASEAN-India Framework Agreement on Comprehensive Economic Cooperation. The Framework Agreement laid a sound basis for the establishment of an ASEAN-India Free Trade Area (FTA), which includes FTA in goods, services and investment.

The ASEAN-India Trade in Goods Agreement (AITIGA) entered into force on 1 January 2010. The signing of the AITIGA on 13 August 2009 in Bangkok paved the way for the creation of one of the world’s largest free trade areas with more than 1.9 billion people and a combined GDP of US$ 5.36 trillion. The ASEAN-India Trade in Services Agreement was signed by all Parties on 13 November 2014 and had entered into force on 1 July 2015. As of date, the Agreement has been ratified by all Parties. Meanwhile, the ASEAN-India Investment Agreement was signed by all Parties on 12 November 2014. The Agreement entered into force on 1 July 2015. To date, it has been ratified by all Parties, except Cambodia.

The Government of the Republic of India (India) and the Governments of Brunei Darussalam, the Kingdom of Cambodia (Cambodia), the Republic of Indonesia (Indonesia), the Lao People’s Democratic Republic (Lao PDR), Malaysia, the Union of Myanmar (Myanmar), the Republic of the Philippines (the Philippines), the Republic of Singapore (Singapore), the Kingdom of Thailand (Thailand) and the Socialist Republic of Viet Nam (Viet Nam), Member States of the Association of Southeast Asian Nations (collectively, “ASEAN” or “ASEAN Member States”, or individually, “ASEAN Member State, AIFTA means the ASEAN-India Free Trade Area under the Framework Agreement on Comprehensive Economic Cooperation between the Republic of India and the Association of Southeast Asian Nations.

PLAN OF ACTION (POA):
POA, guides the implementation of ASEAN-India Strategic Partnership towards achieving the goals and objectives of the ASEAN-India Partnership for Peace, Progress and Shared Prosperity on 30 November 2004 in Vientiane, Lao PDR; the Vision Statement of the ASEAN-India Commemorative Summit on 20 December 2012 in New Delhi, India; and the Delhi Declaration of the ASEAN-India Commemorative Summit to Mark the 25th Anniversary of ASEAN-India Dialogue Relations on 25 January 2018 in New Delhi, India; as well as builds upon the achievements made under the previous POAs for 2010-2015 and 2016-2020 in all areas of common interest.
Through the implementation of this POA, ASEAN and India will also work towards supporting the ASEAN Community building and integration process, including the ASEAN 2025: Forging Ahead Together, for a politically cohesive, economically integrated, socially responsible and a truly people-oriented, people-centred and rules-based ASEAN, narrowing the development gap and enhancing ASEAN Connectivity. Both sides will also further promote cooperation in addressing common and emerging challenges and enhance coordination in other international fora on issues of common concern to contribute to overall peace, stability and prosperity. The ASEAN Outlook on the Indo-Pacific (AOIP), adopted at the 34th ASEAN Summit in Bangkok, can serve as a guiding principle in promoting cooperation between ASEAN and India through the existing ASEAN-led mechanisms in the four key areas outlined in the Outlook, namely (i) maritime cooperation, (ii) connectivity, (iii) UN Sustainable Development Goals (SDGs) 2030, and (iv) economic and other possible areas of cooperation to contribute to peace, prosperity and development in the region.

POLITICAL COOPERATION:
Strengthen the existing mechanisms for consultation and cooperation between ASEAN and India including the ASEAN-India Summit, the ASEAN Post Ministerial Conference with India (PMC+1), ASEAN-India Senior Officials’ Meeting and ASEAN-India Joint Cooperation Committee, deepen dialogue and cooperation through ASEAN-led mechanisms including the East Asia Summit (EAS), ASEAN Regional Forum (ARF), and the ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus).

INDIA – SINGAPORE COMPREHENSIVE ECONOMIC COOPERATION AGREEMENT (CECA) AND CULTURAL DIPLOMACY:
India witnessed a remarkable increase in bilateral trade since the signing of the free trade agreement with Singapore in 2005. To ensure balanced trade, the two countries also agreed to expand tariff concessions for an additional 30 products, liberalizing the rule of origin for exports, rationalizing Product Specific Rules, and including provisions on Certificate of Origin. Since the signing of the CECA in 2005, India and Singapore have seen a significant increase in bilateral trade. Beyond economics, India and Singapore have collaborated on cultural diplomacy, with initiatives like the “India by the Bay” festival in Singapore, which showcases Indian culture, arts, and heritage. Socio-economic cooperation has been strong, with joint initiatives in education, particularly in IT and management studies, and Singapore investing in India’s Smart Cities Mission.

INDIA – MALAYSIA COMPREHENSIVE ECONOMIC COOPERATION AGREEMENT (MICECA) AND CULTURAL TIES:

The MICECA was signed between India and Malaysia in 2011. The agreement includes concessions and reductions in tariff for trading certain goods, services, investments, and movement of natural persons. Despite the COVID-19 pandemic, Malaysia and India maintained their strong bilateral trade relations. The total trade, in fact, expanded by 26 per cent in 2021. India’s imports from Malaysia have increased by $ 5.9 Bn and exports have increased by $ 3.12 Bn. With bilateral trade agreement in place, Malaysian companies dealing with palm oil and palm oil products have also benefitted significantly owing to reduction in import duties. Culturally, both countries share a rich heritage, with a significant Indian diaspora in Malaysia contributing to the cultural fabric. The annual Indian cultural festivals, like Thaipusam, are celebrated with much fervour in Malaysia. India has also engaged in socio-economic initiatives, including joint research projects in traditional medicine and collaborations in the education sector.

INDIA – THAILAND FTA – EARLY HARVEST SCHEME (EHS):
India and Thailand have implemented Early Harvest Scheme (EHS) in 2006 to identify specific products for tariff reduction during the ongoing negotiations on the Free Trade Agreement. This is the initial phase of the proposed comprehensive FTA. and serves largely as a measure to increase confidence between the two nations. Under Early Harvest Program, tariff reductions have been proposed to be nil for 82 products including fruits, processed food, gems and jewellery, iron and steel, auto parts and electronic goods. Culturally, India and Thailand share a deep connection through Buddhism and the Ramayana tradition. India has participated in cultural festivals in Thailand and has supported the restoration of Hindu and Buddhist sites. On the socio-economic front, both countries have engaged in health and education initiatives, with India offering scholarships and technical assistance to Thailand.

INDIA-VIETNAM COMPREHENSIVE STRATEGIC PARTNERSHIP:
India and Vietnam elevated their relationship to a Comprehensive Strategic Partnership in 2016. This partnership covers multiple areas, including defence, trade, and investment. Additionally, India and Vietnam have a strong cultural connection through shared Buddhist heritage. India has been involved in restoring ancient temples in Vietnam, like the My Son temples, further strengthening cultural ties. Educational exchanges have also been promoted through scholarships and academic collaborations between Indian and Vietnamese institutions.

INDIA-INDONESIA COMPREHENSIVE ECONOMIC COOPERATION:
India and Indonesia share a Comprehensive Economic Cooperation Agreement (CECA), focusing on strengthening economic ties, particularly in trade and investment. Culturally, both nations have deep-rooted connections through shared historical and religious ties, particularly in the context of Hindu-Buddhist influences. The annual “Sahabat India” (Friends of India) festival in Indonesia showcases Indian culture through dance, music, and cinema. Both countries have also collaborated on various socio-economic initiatives, such as capacity-building programs in health and education.
INDIA-PHILIPPINES ECONOMIC AND CULTURAL COOPERATION:
India and the Philippines have been deepening their economic engagement through various bilateral agreements, focusing on IT, pharmaceuticals, and agriculture. Cultural exchanges have been enhanced through initiatives like the Festival of India in the Philippines, which promotes Indian arts, cuisine, and literature. Additionally, India has provided technical assistance to the Philippines in disaster management and agricultural development, reflecting a broader socio-economic partnership.

INDIA-MYANMAR BILATERAL TRADE, CULTURAL, AND SOCIO-ECONOMIC COOPERATION:
India and Myanmar have a longstanding trade relationship, bolstered by agreements like the India-Myanmar Bilateral Investment Promotion and Protection Agreement (BIPA). Culturally, the two nations share deep Buddhist ties, and India has been involved in restoring Buddhist sites in Myanmar, such as the Ananda Temple in Bagan. On the socio-economic front, India has undertaken several capacity-building initiatives in Myanmar, including vocational training and healthcare projects, aimed at uplifting local communities.

INDIA-BRUNEI ECONOMIC AND CULTURAL RELATIONS:
India and Brunei maintain strong economic ties, particularly in the energy sector. Beyond economics, the two countries have collaborated on cultural initiatives, such as the celebration of Indian festivals like Diwali in Brunei. India has also provided educational scholarships to Bruneian students, fostering people-to-people connections. Additionally, India has engaged in capacity-building programs in areas like healthcare and public administration in Brunei.

INDIA-LAO PDR TRADE, CULTURAL, AND SOCIO-ECONOMIC RELATIONS:
India and Lao PDR have been working together to enhance their trade and economic cooperation, with a focus on agriculture, mining, and infrastructure development. Culturally, India has supported the restoration of ancient Hindu and Buddhist sites in Lao PDR, such as the Vat Phou Temple complex. Socio-economic cooperation has also been a key aspect, with India providing technical assistance in education, healthcare, and rural development, helping to bridge development gaps.

IEFCI ROLE IN PROMOTING INDO ASEAN INTERNATIONAL TRADE:
The International Economic Forum of Commerce and Industry represents leading companies across the globe, advocating for international business and industry.
The International Economic Forum of Commerce and Industry is one of the leading business organizations, enabling business to secure peace, prosperity and opportunity for all. IEFCI is the institutional representative of various leading companies across globe. A non-government, not-for-profit organization, IEFCI is the voice of international business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, IEFCI articulates the views and concerns of industry. IEFCI provides a platform for networking and legal assistance, consensus building within and across sectors and is the first port of call for Indian industry, policy makers and the international business community.
IEFCI holds dialogue with Members of Indo ASEAN Chambers and Ministry of Indo ASEAN Countries. IEFCI is promoting international trade between India and Sri Lanka relating to Tourism, Handicraft Industry, MSME Industry by promoting MSME schemes and Joint venture Of Indo Sri Lanka Industries. IEFCI holded dialogue with Sri Lanka Ministry regarding promotion of Indo Sri Lanka trade.

CONCLUSION:
The IEFCI (International Economic Forum of Commerce and Industry) is looking forward to expansion of international trade between INDIA and ASEAN to strength Economic, socio-cultural and geographical advantages among the countries.