INDIA-ASEAN FTA IN SERVICES IS A MAJOR STEP
INFORMATION TECHNOLOGY SECTOR TO GET BIG BOOST
2014-09-19 11:32
-
After a long tug-of-war, India-ASEAN Free Trade Agreement (FTA) in services has become a reality. It symbolizes one more step forward to accelerate India’s Look East policy. India signed FTA in goods in 2009. In fact, from the beginning India has always been insisting on comprehensive FTA for goods and services, in contrary to ASEAN thrust on FTA in goods at the first stage. The advantage for India is more in service trade than in goods. But, since trade in goods is conventionally the first stage of FTA, India had to bow to ASEAN pressure for trade in goods as the precursor to FTA in services.