If you`re looking to stay up-to-date on the latest trade agreements between ASEAN and India, then you`re in the right place. In this article, we`ll be discussing the ASEAN India Trade in Goods Agreement, its benefits, and how it affects the UPSC exam.
First, let`s define what ASEAN is. ASEAN stands for the Association of Southeast Asian Nations, which is a regional intergovernmental organization that includes 10 countries in Southeast Asia. ASEAN countries include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
India is not a member of ASEAN, but the country has had strong economic ties with the ASEAN countries for many years. The ASEAN India Trade in Goods Agreement, also known as the AITIGA, was signed in 2009 to further enhance trade between the two regions.
The AITIGA aims to reduce or eliminate tariffs on goods traded between ASEAN and India. This agreement covers over 4,000 items, including agricultural products, textiles, and electronics. By reducing trade barriers, the AITIGA makes it easier and cheaper for businesses in both regions to trade with each other.
One of the main benefits of the AITIGA is that it helps to boost economic growth and create jobs in both regions. In addition, it encourages investment and helps companies to expand their markets. It also helps to ensure that businesses in both regions have access to a wider range of goods and services, making them more competitive in the global marketplace.
For UPSC aspirants, understanding the ASEAN India Trade in Goods Agreement is important. Questions related to economic policies and trade agreements often come up in the exam. As a UPSC candidate, it is important to stay informed about current events and understand how they relate to India`s economic development.
In conclusion, the ASEAN India Trade in Goods Agreement is an important trade agreement that promotes economic growth and strengthens ties between ASEAN and India. As a UPSC aspirant, staying up-to-date on this agreement and other economic policies is crucial for success in the exam.