India is poised to redefine its role in global trade, with a projected compound annual growth rate (CAGR) of 6.4 per cent in trade over the next decade, roughly in line with its high GDP growth, according to a report on Monday.
Assam Chief Minister Himanta Biswa Sarma, on Tuesday, urged ambassadors, high commissioners of ASEAN, BIMSTEC, European and other countries, industry captains, and other stakeholders to come and invest in the northeastern state.
India’s bilateral trade with the Association of Southeast Asian Nations (ASEAN) saw 5.2 per cent growth to reach $73 billion during the April-October period this fiscal, the government informed on Saturday.
Defence Minister Rajnath Singh met US Secretary of Defense Lloyd J. Austin on the sidelines of the 11th ASEAN Defence Ministers' Meeting (ADMM)-Plus in Vientiane, Lao PDR, on November 21, according to a release from the Ministry of Defence.
External Affairs Minister S Jaishankar on Friday said India and the ASEAN are preparing for an era of electric mobility, green shipping and green steel, and businesses on the two sides will have to adjust accordingly.
From 2012, though, when the relationship was elevated to a strategic partnership, policymakers on both sides have been incrementally upping the stakes, all the while keeping a wary eye on China.
Economic and trade ties have developed stably, he said, noting that China remains the largest trading partner and the second-biggest export market of Vietnam
One basic principle that all of the stakeholders could agree on was the urgent need for further assistance to Myanmar to find peace, preferably through a process of inclusive dialogue, he noted.
China, which in February signed a proclaimed deep, strategic partnership with Russia, has not condemned President Vladimir Putin's invasion, although it has offered aid and support for Ukraine.
The geopolitical situation in Asia, as deliberations at the annual Shangri-La Dialogue in Singapore last week confirmed, remains hostage to the rivalry between the USA and China.
