VNEconomyNews.com - India is targeting a 40 per cent jump in its trade with the ASEAN to USD 70 billion in 2012 with the signing of Free Trade Agreement with the 10-nation trade grouping, Commerce and Industry Minister Anand Sharma said today.
He told the Rajya Sabha during Question Hour that India's trade with ASEAN has grown to USD 50 billion in 2010 from USD 41 billion after New Delhi signed a Trade in Goods Agreement with the south east Asian block on August 13, 2009.
"We have to take care that there is a balance...If imports have increased, India's exports (to ASEAN) have also increased," he said.
ASEAN consists of Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. (PTI)