India has announced that it is working closely with ASEAN partners to review and upgrade the ASEAN‑India Trade in Goods Agreement.

The Ministry of External Affairs emphasised that this process is multilateral, requiring consensus among all ten ASEAN member states.

Officials noted that the existing agreement is outdated and no longer reflects the current economic structures of either India or ASEAN. The review aims to introduce greater liberalisation of trade, with tariff concessions being reassessed to better suit present‑day realities.

Secretary (East) Rudrendra Tandon explained that negotiations are ongoing with all significant ASEAN economies, as their participation is vital to advancing the review.

He highlighted that while the multilateral process is complex, India is simultaneously pursuing bilateral upgradation of ties with individual ASEAN countries. This dual approach reflects India’s broader strategy of deepening regional economic integration while strengthening specific partnerships.

Responding to questions on trade talks with Australia, Joint Secretary (Oceania) Vishwesh Negi confirmed that India and Australia are working towards finalising a balanced Comprehensive Economic Cooperation Agreement.

He recalled that the two countries signed the Economic Cooperation and Trade Agreement in 2022, which served as a stepping stone towards a more ambitious framework.

The CECA negotiations are being led by the Ministry of Commerce, with both sides expecting to adopt a balanced document that addresses mutual interests. Further rounds of negotiations between chief negotiators are scheduled soon, underscoring the momentum in bilateral trade discussions.

Prime Minister Narendra Modi’s upcoming three‑nation visit will provide a significant backdrop to these economic initiatives. He will travel to Indonesia on 8–9 July, where the focus will be on reviewing the bilateral partnership.

On 10 July, he will visit Australia to participate in the third India‑Australia Annual Summit, a platform expected to advance CECA negotiations and broader strategic cooperation. Finally, on 11 July, Modi will travel to New Zealand, becoming the first Indian Prime Minister to visit the country in forty years. 

This historic visit is anticipated to open new avenues in India‑New Zealand relations, particularly in trade, technology, and people‑to‑people ties.

The push to upgrade the ASEAN‑India Trade in Goods Agreement and advance CECA negotiations with Australia reflects India’s wider economic diplomacy in the Indo‑Pacific. It demonstrates a clear intent to modernise trade frameworks, diversify supply chains, and strengthen strategic partnerships. 

The Prime Minister’s tour of Indonesia, Australia and New Zealand is expected to reinforce these objectives, signalling India’s commitment to building resilient economic and strategic linkages across the region.

ANI