India strengthens Regional Health Partnerships as First BIMSTEC summit (See 'Corp Brief') CBN dismantles clan lab of mephedrone in Uttar Pradesh (See 'Corp Brief') IPR - Dominant element of composite mark is entitled to standalone protection and party cannot resile from concession made on court record without seeking formal recall of order: HC (See 'Legal Desk') NHAI debars Bijwasan User Fee Collection Agency for One Month (See 'Corp Brief') BEE organises Webinar during BRICS Sustainable Lifestyle Week 2026 (See 'Corp Brief') RTI - Once information held by the public authority is duly disclosed or pointed out, the public authority is under no legal obligation to create, compile, or separately furnish new information: IBBI (See 'Legal Desk') Bharat Mobility Expo to be second largest such expo in the world: Goyal (See 'Corp Brief') MY Bharat organises Nationwide Deepotsav and Neighbourhood Youth Parliaments (See 'Corp Brief') India's Deep-Sea Exploration Is Advancing with MATSYA-6000 and Indo-French Collaboration: MoS (See 'Corp Brief') Round 2 for Surface Coal, Lignite Gasification Projects concludes with 2 Applications from NTPC (See 'Corp Brief') DRI recovers two elephant tusks weighing 3.7 kg (See 'Corp Brief') Govt holds Round Table with CPSEs on Enhancing Procurement from SC/ST MSEs (See 'Corp Brief') SARFAESI - Authority must verify statutory declarations & supporting material & on being satisfied that prescribed requirements are fulfilled, must pass appropriate orders for taking possession of secured asset - cannot adjudicate disputed questions falling beyond limited scope of Section 14: HC (See 'Legal Desk') Special Campaign: Waste Disposal generates revenue of Rs 15.74 Crores (See 'Corp Brief') IBC - Provisions of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 contravened where RP unilaterally withdraws higher monthly fee without prior approval of CoC: IBBI (See 'Legal Desk') Delhi Railway Area handles 5 Lakh Passengers Daily - Footfall rises to 8 Lakh during festivals (See 'Corp Brief') IBC- SC exercises power under Article 142 - Borrower firm to pay further sum of 125 crores rupees as full & final settlement of all claims concerning assigned debt: SC LB (See 'Legal Desk') Legislative Department initiates Interaction Series on Personal Effectiveness in Leadership (See 'Corp Brief') National Exercise strengthens India's Preparedness for Foot-and-Mouth Disease (See 'Corp Brief') IBC - Once existence of financial debt & a default is clearly established through unimpeachable evidence & records from information utility, admission of application u/s 7 is mandatory: NCLAT (See 'Legal Desk') NHAI Guidelines to standardise Design and Infrastructure for Multi-Lane Free Flow Tolling (See 'Corp Brief') A & C - Clause 26 of Special Conditions of Contract operates as express contractual bar within meaning of Section 31(7)(a) of the Act, thereby prohibiting arbitral tribunal from awarding pre-reference & pendente lite interest: SC (See 'Legal Desk') Centre reviews progress of AB PM-JAY and ABDM with States (See 'Corp Brief') A&C - Petitioner's deliberate omission of material bank account & failure to disclose operational details, even upon specific judicial inquiry, constitutes incomplete compliance with Rule 41(2) - exercise of discretion under Rule 41(3) to issue arrest warrants is justified: HC (See 'Legal Desk') Reddy calls for expediting Mineral Exploration and Strengthening Centre-State Coordination (See 'Corp Brief') MY Bharat's 'Viksit Bharat Yuva Samvad: Know Your Vote' Campaign reaches Over 1 Lakh Youth (See 'Corp Brief') PBPT - Intention behind benami arrangement may be inferred from surrounding circumstances & material on record, even where such intention is not established through direct evidence: Tribunal (See 'Legal Desk') Ministry of Mines launches 9th Tranche of Critical Mineral Block Auction (See 'Corp Brief') Union Health Minister reviews progress of AIIMS Awantipora; directs expeditious completion (See 'Corp Brief') Competition Act - Relief being of the nature of final relief cannot be sought at a stage when the matter is being investigated by the DG: CCI (See 'Legal Desk') BRE Summit & Expo 2026 reinforces India's Position as Major Global Force in Renewable Energy: Joshi (See 'Corp Brief') A&C - Judicial intervention in arbitral proceedings is warranted only in exceptional cases, such as where party is left remediless under the statute or where clear bad faith is established: HC (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

Print

16th AEM: trade in 2018 grew by 9.8% between ASEAN and India

Published: Sep 10, 2019

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 10, 2019: THE Minister of Commerce and Industry, Mr. Piyush Goyal and Economic Ministers from ten ASEAN Member States, today met at Bangkok in Thailand for the sixteenth AEM-India Consultations. The Consultations were co-chaired by Deputy Prime Minister and Minister of Commerce, Thailand, Jurin Laksanawisit and Minister of Railways and Commerce and Industry, Piyush Goyal.

The Ministers noted that, based on preliminary ASEAN data, two-way merchandise trade between ASEAN and India grew by 9.8 per cent from USD 73.6 billion in 2017 to USD 80.8 billion in 2018. The Ministers were also pleased to note the recovery of Foreign Direct Investment (FDI) inflows from India in 2018, amounting to USD 1.7 billion. This placed India as ASEAN's sixth largest trading partner and sixth largest source of FDI among ASEAN Dialogue Partners. According to India's preliminary data, FDI inflows into India from ASEAN in 2018 was USD 16.41 billion, approximately 36.98 per cent of total FDI flow into India.

The Ministers were pleased to note the ratification of the ASEAN-India Trade in Services Agreement by all Parties in 2018. The Ministers also noted the on-going efforts for the ratification of the ASEAN-India Investment Agreement and looked forward to the full ratification by all Parties as soon as possible. The Ministers agreed to initiate the review of the ASEAN-India Trade in Goods Agreement (AITIGA) to make the AIFTA more user-friendly, simple, and trade facilitative for businesses and to constitute a Joint Committee, as provided in Article 17 of the AITIGA, for this purpose. The Ministers tasked officials to work on the details of the review and submit an update at the 17 th AEM-India Consultations.

The Ministers commended the outcomes of the 4th India-ASEAN Expo and Summit held on 21-23 February 2019 in New Delhi, India. The Ministers noted that the event provided an ideal platform for investors, business leaders, industry captains and policy makers to enhance their engagements in further facilitating mutual trade and investment. In this regard, the ASEAN Economic Ministers encouraged for the promotion of this event to business communities in ASEAN as an effective platform for discussions, exchange of ideas, and buyer-seller matching.

The Ministers welcomed the recommendations of the ASEAN-India Business Council to further promote the potential of bilateral trade through the utilisation of ASEAN-India FTA  as well as cooperation in some areas of mutual interest such as financial technology (FinTech), connectivity, start-ups, and innovation, empowerment of youth and women, and MSMEs development. The Ministers also expressed their support for the Fourth ASEAN-India Business Summit and Business Excellence Award, which will be held in Manila in October 2019.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.