Strengthen economic linkages between India and ASEAN and prospects for the Indian pharmaceutical sector

During the twenty-first century, the political and cultural relations between India and ASEAN have rapidly strengthened. However, economic linkages between India and ASEAN countries are still low and unbalanced. In fact, India is developing an open market economy and its GDP in 2019 ranked 5th in the world. In particular, the Indian pharmaceutical company has made a valuable contribution to global healthcare by providing a variety of drugs with reasonable prices. India supplies 60-80% of the United Nations' drug demand, 40% of generic drugs in the US and 25% of all drugs in the UK (IBEF, 2019). Moreover, in the new context of regionalisation and globalization, India has focused on the economic pillar for the purpose of building its position in the international market as well as creating more influences in Southeast Asia. Therefore, the research "Strengthen economic linkages between India and Southeast Asia and prospects for the Indian pharmaceutical sector" is very necessary. The article consists of three contents as following:

1.             Overview of the economic linkages between India and ASEAN

2.             Current status and key factors influencing the trading relations of India and Southeast Asia in the pharmaceutical sector

3.             Trend in economic linkages between India and ASEAN, especially in pharmaceutical sector.