Exports to Thailand + ASEAN
India’s merchandise exports to Thailand and ASEAN increased from US$ 23 billion in 2010 to US$ 31.49 billion in 2019.
Benefits for exporters
ASEAN’s decision to lower intra-regional tariffs through the Common Effective Preferential Tariff (CEPT) Scheme on exports under the FTA has benefited Indian exporters in the following ways:
- Free movement of Indian goods throughout the 10 ASEAN countries.
- Elimination of tariffs on Indian goods make them competitive in the ASEAN market, making them more accessible.
- Indian raw material exports more competitive due to reduced tariffs and benefit ASEAN producers.
- Indian export complementarities are higher with ASEAN countries than any other region due to their shared land and maritime boundaries.
