Commerce and Trade between India and South East Asia since Time Immemorial (with particular reference to ASEAN Countries)

Commerce and Trade between India and South East Asia since Time Immemorial (with particular reference to ASEAN Countries)

Khushbu Tiwari

ABSTRACT

India's association with South East Asia dates back to the 6th century BC. The geographical proximity of these areas to the borders of India and favorable conditions for trade attracted the merchant class of India. Most of the countries in South East Asia are member countries of ASEAN. In order to establish economic, commercial and strategic relations with ASEAN countries, the Government of India launched the Look East Policy in the 1990s itself. India's Look East Policy An attempt to pursue a policy of active engagement with the countries of South East Asia. Establishing trade and economic relations with these countries was the focus of this policy. In 2014, Narendra Modi's government changed the name of Look East Policy to Act East Policy and expanded the scope of this policy. Apart from this policy, the  annually summit has further strengthened the relations between India and South East Asia and made a different identity on the global stage. 2009 to 2022 import-export has increased every year in the trade sector of goods with these countries but very little progress has been made in the field of service and investment. India's trade balance with ASEAN countries has been unfavorable But ever since India withdrew from the Regional Comprehensive Economic Partnership Agreement(RCEP) the interest of the people of South East Asia towards India has decreased. India needs to respond to South East Asian concerns. It will raise Indian infulence in the region which is very much needed. It is also very important for India's national interest to resolve the current issues with ASEAN countries.

Key words: ASEAN, Look East Policy, Import-Export, RCEP, Balance of Payment etc.