International News

ASEAN and Export Growth

October 22 , 2026 14 hrs 0 min 16 0

The Association of Southeast Asian Nations (ASEAN) emerged as the fastest-growing regional destination for India’s exports during April–August 2026, with a 56% increase driven mainly by petroleum product shipments.
India’s petroleum product exports to ASEAN rose 2.4 times to over US$6.1 billion, with Singapore accounting for nearly three-fourths of these exports.
Exports of computer hardware to ASEAN increased 20-fold to US$1.4 billion, while electric machinery exports rose 82% to US$1.6 billion.
India’s exports to the European Union (EU) grew at the slowest pace, as petroleum product exports fell 21% to US$4.6 billion.
India’s exports to Spain rose 54% to US$3.5 billion, while petroleum product exports to Italy increased from US$4 million to US$659 million.
The Association of Southeast Asian Nations (ASEAN) was established on 8 August 1967 in Bangkok, Thailand, through the Bangkok Declaration.
ASEAN has 11 member countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Timor-Leste and Vietnam and India is not a member of ASEAN.