<Tr> <Td> </Td> <Td> Vietnam </Td> <Td> Hanoi </Td> <Td> 331,690 </Td> <Td> 88,069,000 </Td> <Td> 201.36 </Td> <Td> đồng </Td> <Td> Vietnamese </Td> </Tr> <Tr> <Td> </Td> <Td> India </Td> <Td> New Delhi </Td> <Td> 3,287,263 </Td> <Td> 1,210,193,422 (2011) </Td> <Td> 2,288.72 </Td> <Td> rupee </Td> <Td> Hindi, Tamil English </Td> </Tr> <P> The signing of the ASEAN - India Trade in Goods Agreement paves the way for the creation of one of the world's largest FTAs--a market of almost 1.8 billion people with a combined GDP of US $2.8 trillion . The ASEAN - India FTA will see tariff liberalisation of over 90 percent of products traded between the two dynamic regions, including the so - called "special products," such as palm oil (crude and refined), coffee, black tea and pepper . Tariffs on over 4,000 product lines will be eliminated by 2016, at the earliest . </P> <P> While there are many benefits to the ASEAN - India FTA, there is concern in India that the agreement will have several negative impacts on the economy . As previously stated, the two regions aim to reduce their tariffs on a majority of their traded goods . This will allow them to increase the market access of their products . It is criticised, however, that India will not experience as great an increase in market access to ASEAN countries as ASEAN will in India . The economies of the ASEAN countries are largely export - driven, maintaining high export - to - GDP ratios (in 2007, Malaysia had a ratio of over 100%). Considering this, as well as the global financial crisis and India's expansive domestic market, the ASEAN countries will look eagerly towards India as a home for its exports . </P>

India's responses to asean as a dialogue partner