Key words: India, ASEAN, economic cooperation

India-ASEAN relationship today has reached new heights with the holding of India-ASEAN summit level engagement, aiming at further cooperation between the two sides to meet the new challenges. India has taken an important decision to extend its relation by appointing N. Ravi, as an ambassador to ASAEN as the dialogue partner. India has now become the seventh ASEAN dialogue partner to have appointed its ambassador after the US, China, Japan, South Korea, Australia and New Zealand. India’s trade with ASEAN countries is around $40 billion with a joint aim of increasing it to $50 billion by next year.

The seventh summit is crucial, as it will provide an opportunity to ink free trade agreements. Also an opportunity to discuss with Hun Sen - Thaliand’s military standoff - a resolution. which has been stalled by Thailand’s political unrest. Besides, this summit is also likely to discuss the inclusion of East Timor as a member of ASEAN.

From India’s perspective three sets of issues—economic, security and environmental are important. This essay highlights the opportunities and challenges relating to these three issues