India seeks rebalanced trade deal as ASEAN deficit hits $51.55 bn

India's trade deficit with ASEAN reached $51.55 billion in 2025-26, with total trade at $128.38 billion. India seeks fairer tariffs, fewer export barriers, and aims to curb Chinese goods routed via ASEAN. Both sides will meet in October 2026 ahead of a major summit to resolve trade imbalance issues.