Trade Pacts With India and Thailand & Indonesia
New trade packs with India and Thailand & Indonesia could come into affect with respect to the health, education and accountancy sectors. Talks have already started with Thailand and it is hoped that similar talks with Indonesia will start soon. Earlier this year India also signed a comprehensive trade pact with Malaysia.
Indonesia has stressed their interest in moving talks along, but the country is still waiting to appoint a chief negotiator for the talks. The Indian commercial department has already emphasized the importance of signing comprehensive economic partnership agreements, for not only goods but services as well with members of Asean.
Once trade pacts have been signed with the two countries, it will allow India to compete with the like of Australia, New Zealand and to some extent China in the services mentioned above. The next round of meetings with the Asean is scheduled for May, where India is hoping pacts can be finalized at a quicker pace.