Engagement between India and ASEAN has intensified: Adi Godrej

GUWAHATI: Adi Godrej, Chairman of the Godrej Group and president of Confederation of Indian Industry (CII)said the signing of the ASEAN-India Trade in Goods Agreement has paved the way for creation of one of the world's largest free trade areas market of almost 1.8 billion people with a combined GDP of US$2.8 trillion.

Godrej who was in Guwahati to participate in the flag down ceremony of ASEAN-India car rally 2012 on Monday said though the engagement between India and ASEAN has intensified, the volume of trade and investment flows remains relatively low compared to other trading partners of ASEAN.

He said, "India-ASEAN total trade is now close to US$ 80 bn. But this is quite low in comparison to China-ASEAN trade of US$ 360 bn. Moreover, the two-way trade in services between both sides is much below the potential."

Travelling a distance of 8000km the car rally which started in Indonesia reached Guwahati.