- Dependence of India and ASEAN on the West needs to be reduced.
- India - ASEAN bilateral trade will top the US $ 50 million mark in 2010.
- FICCI proposed that India - ASEAN bilateral trade would reach US $ 100 billion by 2015.
- The proposed India ASEAN Green Fund of US $ 5 million would promote adaptation and mitigation technologies in the area of climate change.
- Revival of the Nalanda University as an international institution of excellence has emerged as an important initiative that underlines the ancient linkages of the two regions.
A New Asian century
- Indian economy is expected to grow at 6-10% for the next 20 years.
- India has 550 million people below the of 25 compared to the ageing population in the West.
- Core Architecture of Asia, especially in the security sense is going to be shaped by the US, China and India.
- Old issues should be boxed in for moving ahead, and it should be from both the sides.
- China & India are the two countries which have great potential to grow and become more powerful in the next 25-50 years.
Session II: India-ASEAN:
The Way Forward for Economic Cooperation &
Integration after the Free Trade Agreement
- Lao PDR has turned the disadvantage of being landlocked into an advantage of being land-linked through the implementation of the north-south and east-west economic corridor projects to link the transport network with the neighboring countries
- lBilaterally, India was the seventh largest investment partner of the Lao PDR between
2000 and 2009, with an approximate investment of US$ 351 million
- 21st Century will be the ASEAN Century as the center of gravity of the world is shifting gradually to the Asia Pacific region.
- South East Asia is going to determine the politics and the economics of the Century.
India - ASEAN Roadmap in the New Millennium
- India's trade relations are shifting from West economies towards the East, comprising of Japan, China, Korea and ASEAN.
- India - ASEAN is slated to grow faster than the rest of the world due to a favorable demographic profile and growing market for goods and services.
- Eleven products that will enormously benefit from the Asean India Free Trade Agreements are - metal parts and components, electronic components, processed fruits, ceramics, gloves and knittings, fertilizers, chemicals like fatty alcohol, coconut and vegetable oil, refined glycerine.
Enhancing India's Connectivity with ASEAN:
Challenges and Opportunities
- Economic integration or connectivity between ASEAN and India can be developed by a good combination of economic integration, air enhancing connectivity and industrial development in India.
- ASEAN and India will have to ensure that their markets are realigned to meet the demands of the FTA as such arrangements may have short term impact on the economies.
- India - ASEAN should have a great voice in the global financial architecture and governance so that better steps can be taken in future to combat any financial crisis.
Delhi Dialogue II, 21-22 January 2010