Asean Free Trade Agreement India

made progress with discussions on reducing tariffs and removing non-trade barriers for various products, including palm oil products from Indonesia, pharmaceuticals and buffalo meat from India. However, the C.A.C.A. has yet to be executed. Free trade agreements between the two regions appear to be working effectively and Indian Prime Minister Manmohan Singh confirmed that the 2010 free trade agreement on products contributed to trade growth of 41% between 2011 and 2012. Singh also said the implementation of the 2012 Free Trade Agreement on Services and Investment has increased annual trade between India and ASEAN to $100 billion by 2015. Trade between India and ASEAN currently amounts to about $80 billion.