PM Modi addresses India-ASEAN summit, emphasizes on expansion of ties

Prime Minister Narendra Modi on Sunday addressed the India-ASEAN summit. Presenting a brief blueprint for further expansion of India's multi-sectoral engagement with the Association of Southeast Asian Nations (ASEAN), PM said that the group is the most influential groupings for trade and investment globally. He thanked Thailand and global leaders for cooperation and support. 

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In his opening address, the prime minister also said enhancing surface, air and maritime connectivity between India and 10 nations of the bloc will significantly boost regional trade and economic growth. He added that there was an opportunity for boosting cooperation in the maritime security sphere and the blue economy as well as in areas of agriculture, engineering, digital technology, and scientific research. The prime minister welcomed convergence of views between India and ASEAN for cooperation in the Indo-Pacific region.Emphasizing on India's Act East policy and its role towards strengthening the Indo-Pacific vision and ASEAN, PM Modi said that integrated and economically vibrant ASEAN is in the interest of India.

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The 10-nation ASEAN is considered one of the most influential groupings in the region and India and several other countries including the US, China, Japan, and Australia are its dialogue partners. The ASEAN region along with India together comprises a combined population of 1.85 billion people, which is one-fourth of the global population and their combined GDP has been estimated at over USD 3.8 trillion. Investment from ASEAN to India has been over USD 70 billion in the last 17 years accounting for more than 17 percent of India's total FDI. The 10 member countries of ASEAN are Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar, and Cambodia. 

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(with PTI inputs)