India, Thailand Advance Asean Trade Pact Review to Strengthen Trade
India and Thailand talked about the advancement of the current examination of the ASEAN free trade agreement concerning goods.
The Commerce and Industry Ministry stated that Minister Piyush Goyal and Thailand's Deputy Prime Minister and Minister of Commerce, Suphajee Suthumpun, talked about enhancing trade and investment relations between their nations.
"The two parties shared opinions on the advancement of the ASEAN-India Trade in Goods Agreement (AITIGA) review and highlighted the importance of enhanced bilateral cooperation via the India-Thailand Joint Trade Committee (JTC) within a specific timeframe," the ministry stated.
Thailand is part of the ASEAN group. Additional members include Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
The evaluation is a top priority for India to enhance user-friendliness, simplicity, and trade facilitation for enterprises. The agreement was executed in 2009.
ASEAN holds significant importance as a trade partner for India, accounting for roughly 10 percent of India's worldwide trade.
In another announcement, the ministry mentioned that the National Industrial Corridor Development Corporation Limited (NICDC) took part in the inaugural INNOPROM India 2026, occurring from 9-11 September at Bharat Mandapam.
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The first edition of the event in India offers a significant platform for enhancing the India-Russia Special and Privileged Strategic Partnership, uniting government officials, manufacturers, tech firms, investors, and industry groups from both nations.
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India and Russia aim for a bilateral trade goal of roughly Rs 9.45 lakh crore (USD 100 billion) by 2030, with their expansive economic partnership increasingly emphasizing manufacturing, investments, technological collaboration, logistics, localization, and industrial clusters, it noted.
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"Possible sectors for India-Russia manufacturing collaboration encompass advanced engineering and machinery, railway and transport equipment, metals, energy and renewable energy, vehicles, aerospace and defense, pharmaceuticals, chemicals, textiles, and sophisticated manufacturing technologies," it noted.