| Summary/Abstract |
[W]hether India can have an overall comparative advantage in trade in the region as a whole is questionable. However, what could be focused upon are the benefits, which India could gain from the regional integration as the ASEAN and India become significant players in shaping the regional trading architecture. How these agreements have an impact on the Indian economy in the near future would largely be dependent on India itself and its preparations to be able to optimally make use of the opportunities presented to it. India probably needs to be more cautious before deciding to further liberalise the current AIFTA, i.e. including more products in the Normal Track list, which seems to be the eventual aim. Domestic implications of such measures need to be taken into account rather than merely following the decided time frames on liberalisation of various products.
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