ASEAN India to come more in trade, tourism and business

Trade between India and the ASEAN (Association of Southeast Asian Nations) countries is expected to grow 20 percent to $70 billion in 2012, a senior external affairs ministry official said here Friday. In Free Trade Agreement(FTA) between India and ASEAN came into force from the January 1, 2010. Following the FTA trade which was $43.5 billion in 2009-10 reached $50 billion in 2011.

Due to the large trade basket and the FTA trade between India and ASEAN has been growing at a rate of 18-20 percent every year said a senior external affairs ministry official during the Look East Economic Summit 2012.


Earlier this month India and ASEAN signed an MoU to promote tourism. The MoU meant to serve as the key instrument for more action oriented cooperation, encouraging both parties to cooperate in facilitating travel and tourist visit and further strengthening the close tourism partnership. An ASEAN Promotional Chapter has been established in Mumbai to act as a tourism marketing and promotion agency of ASEAN National Tourism Organisation. The number of tourist arrivals between ASEAN and India had shown steady growth.

ASEAN and India have also been co-opting in Buddhist pilgrimage tourism including the production and promotion of materials and documentary films on Buddhist pilgrimage in ASEAN-India.


In the meantime Asian Development Bank (ADB) has shown its willingness to bring India and China on board the newly created Association of Southeast Asian Nations (ASEAN) Infrastructure Fund for funding infrastructure projects in the region.

The ASEAN Infrastructure Fund has a corpus of $750 million, of which ADB’s contribution is $150 million.

The Asean Development Fund’s is set to be bigger as its total lending commitment through to 2020 will be about $4 billion. Nearly 70 per cent co-financing will be done by ADB. ADB is also expected to leverage more than $13 billion in infrastructure financing by 2020.

The master plan on ASEAN Connectivity, issued in 2010, identifies a series of strategies and actions to enhance physical, institutional, and people-to-people connectivity between member nations. The Asean infrastructure Fund will finance approximately six infrastructure projects each year. These will be selected based on sound economic and financial rates of return, and the potential impact on poverty reduction. India’s northeastern states including will also benefit significantly from any such connectivity.



  • Vissionary

    Hope AGARTALA emerges as new cyber city of INDIA !!

    Really hope leadership in CENTER, TRIPURA Govt and Other Concerned DIGNITARIES takes a FUTURISTIC and PROGRESSIVE approach and goes BIG to put TRIPURA in the GLOBAL IT RADAR and transform into next IT and Technology powerhouse of INDIA !!

    Really hope BUSINESS CONGLOMERATES establishes their presence in TRIPURA which shares boundaries with Bangladesh and have a direct proximity (through Mizoram) with Myanmar and Southeast Asia!

    Not a single High Tech corporate, Big IT MNCs, Renowned HOSPITAL Chains, BEST of Higher Educational Institutes, World Class (5 Star) Hotels and Luxury Shopping Malls have presence in TRIPURA – Being the 2nd highest POPULUS state in NE and literacy rate crossing 90% (no of unemployment stands 6 lakhs!), need of the hour is to set up IT zones, Industrial corridors (in the line of DELHI-MUMBAI corridor) with invitation to Big IT MNCs (IBM,Accenture,TCS, Infosys, Wipro,HCL,Cognizant), World Class Hospital Chains (FORTIS, APPOLO,MANIPAL), World Class Hotel Chains (Taj, Leela, Oberoi, ITC), world class Retail outlet chains (Walmart, IKEA, Pantaloons,Shoppers Stop, Croma, Reliance Retail etc) to set up their presence at AGARTALA!

    TRIPURA is also home to massive talent pool with combination of huge number of working professionals (working in other Metros and abroad currently), local educated youths, youths (and working professionals) from neighboring NORTHEAST states and legal working professionals from Bangladesh and Neighboring countries!

    IMPOSSIBLE – just means I AM POSSIBLE! If India need to catch up with developed part of the world,the most strategically placed Northeast (especially TRIPURA) need to be made into a developed region in the shortest possible time!

    I strongly believe TRIPURA govt (in close co-ordination with Center, other concerned dignitaries & all corporate vissionaries) can certainly achieve this sooner rather than late, which would definitely give its people a better employment opportunities, a better healthcare, a better access to quality education, a quality lifestyle, and last but not the least a confident and connected TRIPURA leading India’s charge towards contributing to a more stable and stronger global economy!!

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