Ahead of India-Asean FTA review: Industry flags spike in imports of 38 items

India is gearing up for a review of the 13-year-old trade pact with the Association of Southeast Asian Nations (Asean) against the backdrop of a surge in imports of as many as 38 items, including laptops, IT hardware and telecom equipment. and stainless steel products, during the first six months of the current financial year.

The spike in imports came mainly from countries such as Singapore, Thailand, Indonesia, Malaysia, Vietnam and the Philippines, people aware of the matter told Business Standard.

The 10-member Asean group also includes Brunei Darussalam, Cambodia, Laos and Myanmar. The India-ASEAN Free Trade Agreement (FTA) was signed in August 2009 and the deal came into effect from 2010.