July 21, 2018 | 22:22 (GMT+7)
ASEAN-India trade likely to hit USD 100 billion by 2020
ASEAN-India trade is likely to touch USD 100 billion by 2020, the news agency PTI quoted Indian Union Urban Development and Housing Minister Hardeep Singh Puri as saying.
Speaking at the valedictory address at the 'Delhi Dialogue' in New Delhi on July 20 in the presence of delegation heads of ASEAN countries, Puri asserted said the economic partnership between India and ASEAN is deepening by the day and is in a "dynamic phase."
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Heads of the delegations at the Delhi Dialogue in New Delhi posing for a photo |
He said the bilateral trade between ASEAN and India has crossed the USD-80-billion mark, which not only shows growing confidence but also constitutes the highest volume of trade in goods that the two sides have witnessed since the signing of the FTA in 2010.
He also called for stronger cooperation between ASEAN and India in the economic field.
According to the minister, the ASEAN-India region together represents a combined population of 1.85 billion - a quarter of the global population and a GDP of over USD 3.8 trillion, creating one of the largest economic spaces in the world.
This joint economic space provides avenues for expansion and cooperation across a myriad of commonalities in security, economic and socio-cultural areas across the geographical expanse of the Indo-Pacific," he said.
Source: VNA