Trade deals were supposed to be a two-way street for India. But about 15 years after it opened the gates wider to the Association of Southeast Asian Nations (ASEAN), Japan and South Korea, the traffic appears to have moved much faster in one direction.
India’s early trade agreements with Asian economies were meant to give its exporters better access to the markets, deepen economic integration with the region and expand trade.
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Imports were expected to grow too, just not quite like this.
