The ASEAN-India Free Trade Agreement (AIFTA) is a comprehensive free trade agreement that was signed between the Association of Southeast Asian Nations (ASEAN) and India in 2009. The agreement aims to boost trade and investment between the two regions by eliminating tariffs on goods traded between the two parties.

The AIFTA agreement covers trade in goods, services, and investment between ASEAN and India. The agreement provides ASEAN and India with preferential access to each other’s markets, eliminating or reducing tariffs, non-tariff barriers, and other trade restrictions.

The AIFTA agreement has the potential to create a market of almost 1.8 billion people, making it one of the largest free trade agreements in the world. The agreement covers a wide range of sectors, including agriculture, manufacturing, services, and investment.

Under the AIFTA agreement, ASEAN and India have agreed to reduce or eliminate tariffs on a large number of products. The agreement also includes provisions for the protection of intellectual property, the liberalization of trade in services, and the creation of a dispute settlement mechanism to resolve disputes between the two parties.

In order to take advantage of the opportunities provided by the AIFTA agreement, businesses in ASEAN and India will need to be aware of the specific rules and regulations governing trade between the two regions. This includes understanding the rules of origin, which determine whether a product qualifies for preferential treatment under the agreement.

In addition, businesses will need to be aware of the regulatory environment in each of the ASEAN countries and India. This includes understanding the requirements for the import and export of goods, as well as the regulations governing the provision of services and the establishment of investment.

Overall, the ASEAN-India Free Trade Agreement presents a significant opportunity for businesses in both regions to increase their trade and investment. By understanding the specific rules and regulations governing trade between the two regions, businesses can take advantage of the opportunities provided by this comprehensive free trade agreement.

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