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India Urges Fast-Tracked Review Of ASEAN FTA Amid Termination Buzz

  • India is urging a fast-tracked review of the ASEAN Free Trade Agreement (FTA) amid concerns of termination due to lack of progress.
  • Commerce and Industry Minister Piyush Goyal held discussions with his Malaysian counterpart to facilitate the ongoing review.
  • The FTA, criticized in India for imbalanced trade benefits, has been under review since 2019 and may face termination if core concerns remain unaddressed.
  • India has expressed dissatisfaction with the agreement, highlighting that benefits lean towards ASEAN nations, and has opened a significantly higher percentage of tariff lines compared to some ASEAN member countries.

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