RCEP: Members want India to reciprocate their tariff reduction offer

India received better proposals on goods, services during last round of negotiations in Japan

While negotiations on the proposed Regional Comprehensive Economic Partnership (RCEP) agreement recently broke a deadlock, India is now under pressure to update its offers on tariff reduction on goods and services trade before the next meet.

The last round of negotiations, held last week in Kobe, Japan, saw India receiving better offers from other nations on tariff reduction and market access in both merchandise as well as services trade. 

“This represents a forward movement after a significant period of stagnation in talks,” a senior commerce ministry official said. However, the country is now expected to reciprocate similarly by updating its