Overview

• Officials say nine negotiation rounds since 2022 have yielded minimal progress, with ASEAN members reluctant to address India’s reciprocity concerns.
• India opened 71% of its tariff lines, while Indonesia opened only 41%, Vietnam 66.5% and Thailand 67%, highlighting the skew in concessions.
• The bilateral trade deficit has grown from $4.98 billion in 2010-11 to $44.20 billion in 2024-25 as imports far outpaced exports.
• Commerce Minister Piyush Goyal has called the agreement 'silly' and accused some ASEAN countries of serving as a 'China's B-Team' that channels Chinese goods into India.
• Frustrated by the stalled review, India is targeting new FTAs with complementary economies such as the UK, EU and Gulf states to better safeguard its industries.