21st ASEAN-India Summit 2024

At the 21st ASEAN-India Summit in Vientiane, Laos, India’s Prime Minister outlined a forward looking 10-point plan to strengthen India-ASEAN relations. The summit, themed “ASEAN: Enhancing Connectivity and Resilience,” also marked the 44th ASEAN Summit and the 19th East Asia Summit. Notably, 2024 celebrates a decade since India launched its Act East Policy in 2014, underlining India’s commitment to deepening cooperation with ASEAN in trade, security, and connectivity, especially in the strategic Indo-Pacific region.

Key Highlights

1. Economic Partnership: ASEAN and India combined represent 7% of global GDP and 26% of the world’s population. Both sides committed to advancing in frontier technologies, including Artificial Intelligence, Blockchain, Internet of Things (IoT), Robotics, Quantum Computing, and 6G.

2. Digital Cooperation: India will leverage its expertise in digital public infrastructure, such as Aadhaar and UPI, to assist ASEAN in digital transformation. This cooperation aligns with a joint statement issued by both parties, emphasizing advancements in digital infrastructure, fintech, and cybersecurity.

3. Trade and Investment: Over the last decade, India-ASEAN trade has doubled, exceeding USD 130 billion. Despite this growth, India’s trade deficit with ASEAN rose to USD 44 billion in FY23 from USD 8 billion in FY13. Today, India ranks as ASEAN’s sixth-largest trading partner and eighth-largest source of FDI among ASEAN Dialogue Partners. Additionally, some ASEAN countries, led by Malaysia, have initiated local currency trading with India.

4. Cross-Border Transactions: In a major step toward digital financial integration, the Reserve Bank of India joined Project Nexus with ASEAN in June 2024, facilitating real-time cross-border payments between India’s UPI and Singapore’s PayNow systems.

5. Strategic and Security Partnerships: Both sides agreed to bolster the ASEAN-India Comprehensive Strategic Partnership to support peace, stability, and prosperity in line with the ASEAN Outlook on the Indo-Pacific (AOIP). On the South China Sea issue, India and ASEAN reiterated the importance of UNCLOS 1982, advocating for a peaceful, rules-based order and the full implementation of the Declaration on the Conduct of Parties. Additionally, joint initiatives in maritime security, counter-terrorism, and cybersecurity were reinforced through exercises like the ASEAN-India Maritime Exercise.

India’s 10-Point Plan for Strengthening ASEAN Cooperation

1. ASEAN-India Year of Tourism 2025: India will allocate USD 5 million for collaborative tourism events with ASEAN nations.

2. Act East Policy Decade Celebrations: India will host events, including a Youth Summit, Start-up Festival, Hackathon, Music Festival, and Think Tank initiatives to commemorate the decade of the Act East Policy.

3. Women Scientists Conclave: A dedicated conclave to promote ASEAN-India collaboration in science through a platform for women scientists.

4. Scholarships for Education: India will expand Nalanda University scholarships and provide additional scholarships for ASEAN students in Indian agricultural universities.

5. Trade Agreement Review: India and ASEAN will review the ASEAN-India Trade in Goods Agreement (AITIGA) by 2025 to improve trade facilitation.

6. Disaster Resilience Funding: India committed USD 5 million to enhance ASEAN’s resilience to natural disasters.

7. Health Ministers’ Track: Regular interactions between ASEAN and Indian Health Ministers will strengthen collaboration on health resilience.

8. Cyber Policy Dialogue: A dialogue on digital and cyber resilience between ASEAN and India will be initiated to address cyber threats and ensure secure digital infrastructure.

9. Green Hydrogen Workshop: India will support ASEAN’s transition to green energy through workshops on green hydrogen technology.

10. Climate Resilience Initiative: ASEAN leaders are invited to participate in India’s “Plant a Tree for Mother” campaign, promoting environmental conservation efforts.

About ASEAN

Formation and Purpose: The Association of Southeast Asian Nations (ASEAN) was established on August 8, 1967, with the aim of promoting economic growth, social progress, cultural development, and regional peace and stability among its members.

Founding Members: ASEAN was initially founded by Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

Members:

ASEAN has expanded to include 10 member countries:

Brunei
Cambodia
Indonesia
Laos
Malaysia
Myanmar
Philippines
Singapore
Thailand
Vietnam

Objectives and Significance:

ASEAN focuses on regional cooperation in economic, political, security, and socio-cultural areas.
It has played a crucial role in maintaining stability in Southeast Asia, promoting free trade, and
facilitating cooperation through dialogues like the ASEAN Plus Three (involving China, Japan, and
South Korea) and the East Asia Summit.

Last ASEAN Summit

Most Recent Summit: The 43rd ASEAN Summit was held from September 5-7, 2023, in Jakarta, Indonesia.

Key Issues Addressed: This summit focused on regional security, economic cooperation, digital transformation, and sustainability. It also covered topics like the South China Sea dispute, cybersecurity, and economic recovery post-COVID-19. Special sessions were held with dialogue partners, including the United States, China, Japan, and India.

India’s Engagement with ASEAN and Other South Asian Summits

India became a Sectoral Dialogue Partner of ASEAN in 1992, was elevated to Full Dialogue Partner status in 1996, and joined the ASEAN Plus Six East Asia Summit (EAS) in 2005. The India-ASEAN partnership was elevated to a Strategic Partnership in 2012.

India and Other Regional Summits:

1. SAARC (South Asian Association for Regional Cooperation): Established in 1985, SAARC promotes regional cooperation among South Asian nations. Members include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

2. BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation): India is a founding member of BIMSTEC, a regional organization that connects South Asia and Southeast Asia, comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.

3. Indian Ocean Rim Association (IORA): India is an active member of IORA, which promotes cooperation among countries bordering the Indian Ocean, focusing on trade, maritime security, and blue economy.