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Funds: ASEAN Multilateral Division offers project-based financial assistance to ASEAN countries. Financial assistance has been provided to ASEAN countries from the following Funds:

ASEAN-India Cooperation Fund: At the 7th ASEAN-India Summit in 2009, India announced a contribution of US$ 50 million to the ASEAN-India Fund, to support implementation of the ASEAN-India Plans of Action, which envisage cooperation in a range of sectors as well as capacity building programmes in the political, economic and socio-cultural spheres for deepening and intensifying ASEAN-India cooperation. Projects worth approx. In order to take the development and capacity building initiatives forward, PM has proposed enhancing the ASEAN-India Fund with an additional grant of US$ 50 million at the 14th ASEAN India Summit in Vientiane in September 2016.

ASEAN-India S&T Development Fund (AISTDF): At the 6th ASEAN-India Summit in November 2007 in Singapore, India announced the setting up of an ASEAN-India Science & Technology Development Fund with a US$ 1 million contribution from India to promote joint collaborative R&D research projects in Science & Technology. This Fund become operational in 2009-10 and expenditure began to be incurred from FY 2010-11. This fund has been enhanced to US$5 million from 2016-17.

ASEAN-India Green Fund: At the 6th ASEAN- India Summit on 21 November 2007 in Singapore, India announced the setting up of an ASEAN-India Green Fund with an initial contribution of US$ 5 million from India, to support collaboration activities relating to environment and climate change. Some of the areas identified for collaboration under the Fund are climate change, energy efficiency, clean technologies, renewable energy, biodiversity conservation and environmental education.

ASEAN-India Projects: India has been cooperating with ASEAN by way of implementation of various projects in the fields of Agriculture, Science & Technology, Space, Environment & Climate Change, Human Resource Development, Capacity Building, New and Renewable Energy, Tourism, People-to-People contacts and Connectivity etc.
Some of the prominent projects, which are either ongoing or in the final stages of approval are as follows:
Space Project envisaging establishment of a Tracking, Data Reception/Data Processing Station in Ho Chi Minh City, Vietnam and upgradation of Telemetry Tracking and Command Station in Biak, Indonesia; Setting up of Centres of Excellence in Software Development & Training in CLMV countries; e-Network for provision of tele-medicine and tele-education in CLMV countries, Quick Impact Projects in CLMV etc.

Apart from the above projects, India has been supporting ASEAN, especially CLMV countries under the Initiatives for ASEAN Integration, which include projects on Training of English Language for Law Enforcement Officers in CLMV countries and Training of professionals dealing with capital markets in CLMV by National Institute of Securities Management Mumbai, scholarships for ASEAN students for higher education at Nalanda University, Training of ASEAN Civil Servants in drought management, disaster risk management, sustainable ground water management etc. To boost People-to-people Interaction with ASEAN, India has been organising various programmes including Training Programme for ASEAN diplomats, Exchange of Parliamentarians, Participation of ASEAN students in the National Children’s Science Congress, ASEAN-India Network of Think Tanks, ASEAN-India Eminent Persons Lecture Series, ASEAN-India Students Exchange programme, ASEAN-India Media Exchange programme etc.

In Agriculture, we are cooperating with ASEAN by way of projects such as Exchange of Farmers, ASEAN-India Fellowships for Higher Agricultural Education in India and ASEAN, Exchange of Agriculture Scientists, Empowerment of Women through Cooperatives, Training Course on Organic Certification for Fruits and Vegetables etc. These were further strengthened at the 4th ASEAN-India Ministerial Meeting on Agriculture held in January 2018 in New Delhi, with the endorsement of the Medium Term Plan of Action for ASEAN-India Cooperation in Agriculture and Forestry for 2016–2020. In the S&T field, we have projects such as ASEAN-India S&T Digital Library, ASEAN-India Virtual Institute for Intellectual Property, ASEAN-India Collaborative Project on S&T for Combating Malaria, ASEAN-India Programme on Quality Systems in Manufacturing, ASEAN-India Collaborative R&D Project on Mariculture, Bio-mining and Bioremediation Technologies etc.

Delhi Dialogue: India has an annual Track 1.5 event Delhi Dialogue, for discussing politico-security and economic issues between ASEAN and India. Since 2009, India has hosted ten editions of this flagship Conference. The 10th edition of Delhi Dialogue was hosted by the MEA on 19-20 July 2018 in New Delhi, with the theme, "Strengthening India-ASEAN Maritime Advantage".

ASEAN-India Centre (AIC): At the Commemorative Summit held in 2012, the Heads of the Government recommended establishment of ASEAN-India Centre (AIC) to undertake policy research, advocacy and networking activities with organizations and think-tanks in India and ASEAN, with the aim to promote the ASEAN-India Strategic Partnership. Set up in 2013, the AIC has been serving as a resource centre for ASEAN Member States and India, for strengthening ASEAN-India strategic partnership and promoting India-ASEAN dialogue and cooperation in the areas of mutual interests. AIC has provided inputs to policy makers in India and ASEAN on implementation of ASEAN-India connectivity initiatives by organising seminars, roundtables etc. AIC also organizes workshops, seminars and conferences on various issues relevant to ASEAN-India strategic partnership. It undertakes regular networking activities with relevant public/private agencies, organizations and think-tanks in India and ASEAN and EAS countries, with the aim of providing up-to-date information, data resources and sustained interaction, for promoting ASEAN-India Strategic Partnership.

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FAQs on India-ASEAN Economic Cooperation- 2 - UPSC Mains: International Relations

1. What is the significance of India-ASEAN economic cooperation?
Ans. The India-ASEAN economic cooperation is significant as it promotes trade and investment between India and the Association of Southeast Asian Nations (ASEAN) member countries. It aims to enhance economic integration, foster economic growth, and strengthen bilateral relations between India and ASEAN nations.
2. How does India benefit from the India-ASEAN economic cooperation?
Ans. India benefits from the India-ASEAN economic cooperation in several ways. It provides access to a large market of over 650 million people, enhancing trade opportunities for Indian businesses. It also promotes investments, technology transfer, and collaboration in various sectors, leading to economic growth and job creation in India.
3. What are the key areas of focus in India-ASEAN economic cooperation?
Ans. The key areas of focus in India-ASEAN economic cooperation include trade in goods and services, investment promotion, infrastructure development, connectivity, tourism, and cultural exchanges. Both sides also collaborate in areas such as agriculture, science and technology, healthcare, education, and information technology.
4. How does the India-ASEAN economic cooperation contribute to regional integration?
Ans. The India-ASEAN economic cooperation contributes to regional integration by fostering economic linkages and promoting regional trade. It facilitates the flow of goods, services, and investments, reducing trade barriers and enhancing connectivity between India and ASEAN member countries. This cooperation strengthens regional economic cooperation and integration.
5. What initiatives have been taken to enhance India-ASEAN economic cooperation?
Ans. Several initiatives have been taken to enhance India-ASEAN economic cooperation. The India-ASEAN Free Trade Agreement (FTA) has been implemented, reducing tariff barriers and facilitating trade. Regular high-level summits and ministerial meetings are held to discuss and promote economic cooperation. Additionally, programs like the ASEAN-India Business Council and the ASEAN-India Trade and Investment Promotion Program have been established to enhance trade and investment relations.
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