India–ASEAN+ Free Trade Agreement-A Critical Analysis

India started adopting policy measures and action plans to raise its share of world trade. The current Foreign Trade Policy aims at doubling India's share in global trade to 1.5% by the year 2009. There are several issues concerning the draft of the FTA and its regional and sectoral implications. While FTA with ASEAN is a welcome step towards larger Asian economic integration, it was politically inevitable for India to do so, since the other Asian economic powers like Japan and China had already made similar kind of agreement. In this context, it was imperative for the Indian government to be a part of the largest trading economic community of Asia. The present paper analyses Indo ASEAN Trade basic Issues, India's Trade Relation with ASEAN, India – ASEAN Free Trade Agreement, Current Trade between India and ASEAN its Contribution to GDP, Integration with Global Economy, The Tariff Differential between India and the South East Asian Countries, Impact, Problems and Prospects.