India, ASEAN look to boost economic links

The PHD Chamber of Commerce and Industry (PHDCCI) of India is hosting the first India-ASEAN Business Summit in New Delhi as part of efforts to enhance cooperation between India and ASEAN.

The summit has drawn officials and policy makers from India and ASEAN and representatives of international organizations and enterprises. It aims to foster trade and investment collaboration between India and ASEAN, and offer an opportunity for enterprises to enhance partnerships, expand markets, sign cooperation agreements, and remove trade barriers.

Participants have focused their discussions on IT, e-commerce, fintech, infrastructure, health, pharmaceuticals, education, skills development, culture, tourism, agriculture, and food processing.

ASEAN has become one of India's biggest trade partners. Two-way trade increased to nearly 81 billion USD in 2018 from 45 billion USD in 2009. The two hope to increase trade to 200 billion USD by 2022.

Source: VOV5