The Commerce Ministry mentioned the Joint Committee targeted on advancing the continued assessment of AITIGA (Asean India commerce in items settlement) to boost its effectiveness, accessibility, and commerce facilitation capabilities.
ASEAN stays a key commerce companion for India, accounting for round 11 per cent of India's world commerce.
The bilateral commerce reached USD 123 billion in 2024-25, reflecting the robust financial ties between the 2 sides and creating alternatives for enhanced cooperation within the years forward, it mentioned.
“The following AITIGA Joint Committee assembly is scheduled for 6-7 October 2025 on the ASEAN Secretariat in Jakarta, Indonesia, and can be hosted by Malaysia,” it added.In a separate assertion, the ministry mentioned the fourth assembly of the India-Singapore Joint Working Group on Commerce and Funding (JWGTI) was held right here on August 14.Discussions targeted on figuring out precedence sectors for higher alignment, bettering logistics and provide chains, streamlining regulatory frameworks, and exploring methods to facilitate cross-border commerce.The assembly reviewed ongoing collaboration in areas just like the semiconductor sector and digitalisation of commerce, and explored potential partnerships in abilities growth and capability constructing.
Singapore is India's largest buying and selling companion inside ASEAN, with whole bilateral commerce of USD 34.26 billion throughout 2024-25.
It is usually India's second-largest supply of international direct funding (FDI), with fairness inflows of USD 163.85 billion (Rs 11,24,509.65 crore) between April 2000 and July 2024, accounting for about 24 per cent of India's whole inflows.
