India's Textile and Clothing Trade with ASEAN:Emerging Trends and Structure

Abstract

ASEAN’s trade with India is only about 2.8 per cent of its global trade whereas it contributes to about 9 per cent of India's global trade. This paper identifies and discusses that ample trade prospects exist in for India to increase its exports and develop value additions in its trade with ASEAN nations and trade block. Amidst the challenges that lie in a more liberalized environment of trade in goods for India with ASEAN, India can harness trade prospects in textile and clothing trade to ASEAN nations, enhancing its export markets and reducing its dependence on nations of US and Europe which are now coming up with restrictive trade policies. This will further reduce both regions' dependency on China.