2022-2023 India's trade deficit with ASEAN surged to $87.6bn, doubling since 2010 FTA implementation.

India's trade deficit with ASEAN has more than doubled since the 2010 Free Trade Agreement (FTA) implementation, according to Ministry of Commerce and Industry figures. In 2010-11, India's exports to ASEAN countries were $25.6bn, while imports were $30.6bn. By 2022-2023, exports grew to $44bn, but imports surged to $87.6bn, widening the deficit and raising concerns among policymakers and economists.