The ascendency of India as an economic world power

India and ASEAN both want to have Free Trade Agreement (FTA) between them but there are some strong differences between India and ASEAN countries over the terms and conditions. Of course, both the parties want the best for themselves. There is nothing wrong in it as FTA is singed with the hope that it will be helpful for the economy of a country.

AFP reported:

The 10-nation ASEAN bloc will not resume negotiations with India on a free trade agreement (FTA) until New Delhi comes up with a better offer, officials said Monday.

Trade ministers from the Association of Southeast Asian Nations (ASEAN) are scheduled to meet with their Indian counterpart Kamal Nath on the sidelines of the annual ASEAN summit in Singapore on Tuesday.

"For the time being, it's temporarily postponed because we still cannot agree on the product coverage," Indonesian Trade Minister Mari Pangestu told reporters, saying a breakthrough on Tuesday was unlikely.

"Unless India will come with a more progressive offer, I think we just wait to see what will happen," he said.

I surely like to see India making headways in FTA with ASEAN countries. However, Indian decision makers should investigate more about the terms and conditions. Some ASEAN countries want to see more tariff cuts by India in different products.