ASEAN-India trade likely to reach 100 billion USD by 2020

ASEAN-India trade is likely to reach 100 billion USD by 2020, India's Union Urban Development and Housing Minister Hardeep Singh Puri said Friday.

Speaking at the closing ceremony of the 'Delhi Dialogue in New Delhi, Mr. Puri said the economic partnership between India and ASEAN is deepening day by day and is in a dynamic phase. He said the bilateral trade between ASEAN and India has surpassed the 80-billion mark, which not only shows growing confidence but also the highest figure since ASEAN and India signed the FTA in 2010.

According to Mr. Puri, the ASEAN-India region together represents a combined population of 1.85 billion, a quarter of the global population, a GDP of over 3.8 trillion USD, creating one of the largest economic spaces in the world. It paves the way for further cooperation in security, economic and socio-cultural areas across the Indo-Pacific.

Source: VOV5