India-ASEAN Trade Hits $128 Billion as FTA Review Accelerates

India and ASEAN nations reached a $128 billion trade milestone in 2026, with both sides accelerating negotiations on a revised free trade agreement (FTA) to address a growing trade deficit. The move comes amid heightened economic collaboration and strategic alignment in Southeast Asia and South Asia. According to TV BRICS, the ASEAN-India Trade in Goods Agreement (AITIGA) is under urgent review, with India seeking tariff reductions and market access reforms.

Historical Context and Economic Shifts

India-ASEAN trade has grown steadily since the 2009 AITIGA framework, but the $128 billion figure in 2026 marks a significant leap from the $70 billion recorded in 2015. This growth