Ever since Prime Minister Modi announced India’s decision to pull out from the Regional Comprehensive Economic Partnership (RCEP) agreement, there has been a lot of debate on the merit of this deal for India. To be sure, the RCEP negotiations have neither been completely favourable to India nor has New Delhi been able to emerge as a leader in the deal-making process. Also, Indian negotiators have persisted for seven long years – five years under
Trade
Why India’s decision to pull out of RCEP has both pros and cons
Synopsis
Although overall economic benefits from the deal seem to be negligible, India might have just missed an opportunity to emerge as a key player in the largest trading bloc outside WTO.
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