India-ASEAN FTA

Thailand raises objections to India's CAROTAR regulations during the India-ASEAN FTA review, highlighting trade concerns and growing Chinese influence.

CAROTAR aimed at verifying rules of origin under FTAs to prevent misuse of benefits.
India seeks to boost exports to ASEAN countries amidst growing trade gap.
India-ASEAN trade gap in FY23 surged to $43.57 billion, up over 40% from FY22.
Rising investments in ASEAN nations and PLI schemes contribute to trade gap.
Chinese influence in Thailand grows, impacting trade dynamics.
India seeks better market access and streamlining of non-tariff barriers.
Product Specific Rules (PSRs) negotiation aims to simplify FTA utilization.
India's high tariffs contribute to wider trade deficit with ASEAN countries.
ASEAN enjoys greater tariff preferences in Indian market due to high tariffs and fewer FTAs.