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India to liberalize trade with South Korea, Thailand, Malaysia, Singapore.
Text of report by state-run Indian television channel DD News website on 1 January
India will liberalise its trade with South Korea and three key ASEAN countries -- Singapore, Thailand and Malaysia -- by slashing duties on several products like seafood, chemicals and apparel among others.
The country's market-opening pacts with three of the 10 members of the Association of Southeast Asian Nations (ASEAN) and South Korea will be operational from Friday [1 January].
The remaining seven ASEAN members will take a few more months to get the India-ASEAN trade pact, which needs to be "internally approved or ratified by their parliaments," an official said.
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