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India-ASEAN free trade agreement

By LIFS December 3, 2007 at 10:13 AM
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India is hoping to reach a free trade agreement with Southeast Asian nations in May 2008.

Negotiations over the agreement have stalled over India's refusal to roll back tariffs on petroleum, palm oil, pepper, tea and coffee in a bid to protect the domestic sector.

 
Trade between India and the 10 countries comprising ASEAN reached nearly $20 billion last year and is projected to top $30 billion by 2010. Government officials expect the agreement to cover 75 percent of trade immediately and all products by 2011. 

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Odds & Ends | Magazine | December 2007

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