ASEAN Current Affairs - 2019

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4th India-ASEAN Expo Summit

The 4th India-ASEAN Expo and Summit was inaugurated by Union Minister for Commerce and Industries, Suresh Prabhu. The summit will be held between 21-23 February 2019 in New Delhi.

India-ASEAN Expo Summit

  • The India-ASEAN Expo Summit is organised with FICCI to carry forward the momentum and to further strengthen India-ASEAN relations under the Act-East Policy.
  • The 4th India-ASEAN Expo and Summit aim to build upon the success of the previous edition of ASEAN-India Business and Investment Meet and Expo which was held in 2018 as a precursor to India-ASEAN Commemorative Summit.
  • The Summit aims to provide a platform for the policy makers, industry captains and business leaders to come together and forge a common vision for India and ASEAN’s mutual growth and progress.
  • The Expo Summit provides a platform for buyer-seller meetings to provide business leaders with an opportunity to closely interact with their counterparts and consolidate B2B and B2G relations.

The summit will host various Plenary Sessions on sectoral engagements with ASEAN which will be attended by the Ministers and other eminent delegates from ASEAN and India.

ASEAN

ASEAN or Association of South East Asian Nations is an association of nations brought into existence on August 8, 1967, after ASEAN declaration (also known as Bangkok declaration).

ASEAN aims to promote social progress, economic growth and cultural development between member countries and resolution of differences by peaceful negotiations.

Founder countries of ASEAN were Malaysia, Indonesia, Singapore, Philippines and Thailand. Later the body expanded with the joining of 5 more nations Brunei Darussalam, Lao PDR, Cambodia, Myanmar and Vietnam and Cambodia did the latest entry into the group in 1999.

Month: Categories: Business, Economy & BankingUPSC

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Tourism Sector in India

Union Minister for Tourism K J Alphons delivering the inaugural speech at the 2nd ASEAN-India Youth Summit highlighted the contribution of the of the tourism sector to the GDP as below:

  • India’s tourism sector generated USD 234 billion revenue in 2018 and the sector registered a growth of over 19 per cent.
  • India was ranked third in the tourism sector, according to the 2018 report of the World Travel and Tourism Council (WTTC).
  • The global revenue growth from tourism sector was five per cent and Indian tourism sector grew by 19.4 per cent.
  • 87 per cent of revenue was contributed by domestic tourists and 13 per cent foreign tourists.
  • The earnings from foreign tourists were about USD 27 billion.
  • The revenue from the foreign tourists grew by about 14 per cent in India compared to global growth of 7 per cent.
  • Spiritual tourism contributed around 60-70 per cent of the total domestic tourists.

ASEAN-India Youth Summit

The ASEAN-India Youth Summit aims to provide a platform for youth leaders of both India and ASEAN to engage with each other to develop a resilient and symbiotic relationship between countries.

The ASEAN-India Youth Summit is organised by India Foundation, in collaboration with ASEAN Secretariat and Ministry of External Affairs, Government of India (MEA).

The first India-ASEAN Youth Summit was held in 2017 and the theme was Shared Values, Common Destiny. The second India-ASEAN Youth Summit was held in Guwahati with the theme Connectivity: Pathway to Shared Prosperity.

Month: Categories: Business, Economy & BankingUPSC

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