India’s exports to ASEAN expected to reach 46 billion USD
Union Minister of State for Commerce and Industry Anupriya Patel has said that India is expected to export 46 billion USD worth of goods to the Association of Southeast Asian Nations (ASEAN) in the fiscal year 2021-2022, ending in March 2022.
New Delhi (VNA) - Union Minister of State for Commerce andIndustry Anupriya Patel has said that India isexpected to export 46 billion USD worth of goods to the Association of Southeast Asian Nations (ASEAN) in the fiscal year 2021-2022, ending in March 2022.
While addressing the inaugural session of the “India-ASEAN Engineering Partnership Summit” on August 24, Patel said as oneof the largest destinations for Indian exports, ASEAN will be a major regionfor India with an export target of 46 billion USD, in meeting the globalexport target of 400 billion USD in the financial year 2021-2022.
Patel also affirmed that both India and ASEAN have large numbers of skilledworkers, strongly developed service and manufacturing sectors, and have manycomplementary sectors and products that can help expand cooperation.
With a combined economic volume of approximately 5.8 trillion USD,the two sides have considerable potential to strengthen their bilateral tradeand investment partnership. In addition, Patel also noted that the ASEANregion is the third largest export destination of Indian engineering productsafter the European Union (EU) and North America.
The India-ASEANEngineering Partnership Summit, organized by the Technical Export PromotionCouncil in collaboration with the Ministry of Foreign Affairs and theMinistry of Industry and Trade of India, attracted the participation of morethan 300 delegates from the tech industry of India and some ASEAN countries./.
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Illustrative image (Photo: The Hindu) 
