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.
Business of all sizes is having to grapple with issues ranging from rising inflation to conflict in Europe and renewed lockdowns in China. Amid these uncertainties, commerce remains an important driver of economic growth, with Standard Chartered predicting global trade will grow by 70 per cent to $30 trillion by the end of the decade.
Japan and the United States held their first strategic dialogue on Southeast Asian affairs on Wednesday, as part of broader policy coordination in an area under increasing Chinese influence.
Just over a year ago, ASEAN released its mid-term review of the ASEAN Economic Community (AEC) Blueprint 2025. The review reported that 54.1 per cent of the document’s line items had been completed, with another 34.2 per cent in progress.
With a combined population inching towards 700 million, ASEAN’s 10 member-states together form the world’s fifth-largest economy with a GDP of $3.2 trillion.
United States President Joe Biden will host a special in-person summit with ASEAN leaders on May 12-13, a White House statement said Saturday.
