The Summit comes at a time when China is flexing its muscle to tighten its grip over the disputed South China Sea.
Signing of the two pacts -- FTA in services and investments -- were scheduled during the India-ASEAN Economic Ministers meeting in Myanmar last week. But the meeting was postponed as Commerce and Industry Minister Nirmala Sitharaman was not able to attend the meet due to domestic compulsions.
Mr Modi has indicated he will carry on, and intensify, India's 'Look East' policy. But this start is hardly inspiring.
The Asean secretariat hopes the meet may be able to iron out existing wrinkles raised by India. Since there had been no significant progress on the matter over the past two years on most issues, New Delhi is yet to decide on the invite.
He stressed that reform for him was just a way station on the long journey to the destination and the destination is the transformation of India.
Prime Minister Atal Bihari Vajpayee on Wednesday announced an 'open skies' arrangement with the ten-member ASEAN to allow designated airlines from the regional grouping to run daily flights to India.\n\n\n\n
According to a senior commerce department official, talks between India and the Association of South East Asian Nations (Asean) - the 10-country trading bloc - have hit a roadblock, with some of the advanced developing countries demanding greater flexibilities from India.
On the exports front, Bajaj is under pressure in Bangladesh and Africa. On the domestic front, it could ride improvement in rural demand and new launches but it also has to cope with competitive intensity and a high base. The management projects 7-8 per cent volume growth in domestic 2W in financial year 2025 (FY25) with moderation in H2FY25 due to a high base Y-o-Y.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
The India-Asean free trade agreement (FTA) in merchandise goods has failed to realise its full potential, even as the deal was implemented in January 2010 to facilitate greater trade in the region. As a result, reduction of duties on several products might get delayed.
The government expects to conclude the agreement during the December 20-21 meet.
The 10-nation regional block of Association of South East Asian Nation (ASEAN), and not China and India, is the leading destination of America's foreign direct investment, a top US trade official said Monday.
Prime Minister Manmohan Singh attended the 10th ASEAN-India summit in Phnom Penh on Monday with the aim of strengthening India's relations with countries in the South East Asian region.
The inaugural India-ASEAN Car Rally on Tuesday kicked off from the historic Judges field in Guwahati.
Each member will separately sign the agreement & it will become effective only after the last member signs the pact.
Addressing the India-ASEAN Summit in Phnom Penh, Singh said, "India's relationship with ASEAN members and with ASEAN institutionally continues to grow in all dimensions. Commerce and connectivity are vital areas of this relationship and we have made good progress in both."
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
India wants more business and closer engagement with ASEAN even as China's influence spreads in the region. Rediff.com's Sheela Bhatt, who is travelling with the prime minister on his visit to Brunei, reports from Bandar Seri Begawan, capital of the tiny oil-rich country.
The Jaishankar-Wang talks came amid the dragging border row in eastern Ladakh that entered its fifth year in May.
After a robust 2023, foreign investors significantly scaled back their investments in Indian equities in 2024, with net inflows amounting to over Rs 5,000 crore, as elevated domestic valuations, coupled with geopolitical uncertainties prompted investors to adopt a more cautious stance. Looking ahead to 2025, FPI flows into Indian equities could see a recovery, supported by a cyclical upswing in corporate earnings, particularly in domestic-oriented sectors like capital goods, manufacturing, and infrastructure, Vinit Bolinjkar, head of research, Ventura Securities, said.
'A man who brought about the greatest set of economic reforms in the country, who changed the course of Indian history, cannot be considered weak.' 'A man who fought for nuclear reforms even though his majority in Parliament was threatened, he cannot be considered weak.'
Talks on the ambitious India-Asean Free Trade Agreement have received another setback due to the violent protests at the Asean summit venue in Thailand last Sunday.
India and the 10-member ASEAN grouping on Thursday announced concluding a deal for a free trade agreement that will break duty barriers for goods in the 1.5 billion people strong market.
PM Modi proposed a USD one billion line of credit to promote projects that support physical and digital connectivity between India and ASEAN.
Aiming to give fillip to India's Look East policy, Prime Minister Manmohan Singh is expected to announce new initiatives to take forward ties with the ASEAN by setting up a mission and appointing an ambassador for the 10-member grouping.
Opening the plenary on Tuesday morning, Singapore premier Lee Hsein Loong said the ASEAN leaders will strive to prevent the Myanmar issue "from obstructing efforts to deepen integration and build an ASEAN Community" after the grouping abruptly withdrew an invitation to UN envoy Ibrahim Gambari to address the summit following Yangaon's objection.
Commerce Minister Kamal Nath on Tuesday began hectic parleys with his counterparts from Singapore, Malaysia and Vietnam to narrow down differences on finalising the much-awaited Asean-India Free Trade Agreement. However, the Indonesian Trade Minister Mari Pangestu said that the 10-member Asean had put the trade talks "on hold" until India came up with a more progressive way forward.
With India in talks with the ASEAN members for a FTA, Ayurveda was expected to play a major role in healthcare exports.
Consumers can expect duty-free imports of a range of products like capital goods, some textiles, electronic goods and chemicals from next year after India successfully concluded negotiations on a Free Trade Agreement for goods with the 10-member Association of Southeast Asian Nations in Singapore on Thursday.
In fact, India stands to gain in sectors such as textiles, handicrafts, chemicals and pharmaceutical from its trade with the Asean economies.
India and China have agreed to work towards a "roadmap" for rebuilding mutual trust following the border standoff in eastern Ladakh, according to a statement from the Indian Defence Ministry. Defence Minister Rajnath Singh met with his Chinese counterpart Dong Jun in Vientiane, Laos, on the sidelines of a regional security conclave. Singh called for drawing lessons from the "unfortunate border clashes" of 2020 and emphasized the need for cooperation rather than conflict. Both sides agreed to work towards a roadmap for rebuilding mutual trust and understanding, and a meeting of the Special Representatives and Secretary-Vice Minister mechanism will also take place soon.
Trade between China and ASEAN nations is expected to touch $ 300 billion this year, registering a 37.5 per cent increase on the back of a Free Trade Agreement (FTA) between the two sides, said the executive secretary general of China-ASEAN Business Council.
The Confederation of Indian Industry and ASEAN on Monday set up two task forces in pharmaceuticals and agriculture and food processing to prepare a strategy document to outline a roadmap for cooperation in these sectors.
Ways to expand cooperation with East Asian countries will top the agenda of two-day visit of Prime Minister Manmohan Singh who left for Singapore on Tuesday to attend the ASEAN and East Asia Summit. Noting that the trade between India and the ASEAN had been growing rapidly, Singh said it had "surpassed" the expectations as it stands at $30 billion.
Prime Minister Manmohan Singh on Tuesday night returned home from Cambodia after attending the ASEAN and East Asia Summits which provided India with an opportunity to enhance its economic cooperation with the region amid lingering financial crisis in the West.
"Greater connectivity is also central to the idea of regional economic integration," the prime minister said in his speech at the fifth India-ASEAN summit in Cebu, Philippines.
