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.