Ahead of India-Asean FTA review: Industry flags spike in import of 38 items

Import of as many as 38 items from Asean members sees a sharp surge in H1FY24

India is gearing up for a review of the 13-year-old trade pact with the Association of Southeast Asian Nations (Asean) against the backdrop of a surge in the import of as many as 38 items, including laptops, IT hardware, telecom equipment, and stainless steel products, during the first six months of the current financial year.

The spike in imports was witnessed mainly from countries such as Singapore, Thailand, Indonesia, Malaysia, Vietnam, and the Philippines, people aware of the matter told Business Standard.

The 10-member Asean grouping also includes Brunei Darussalam, Cambodia, Laos, and Myanmar. The India-Asean free trade agreement (FTA)