Business Standard

Tuesday, December 24, 2024 | 12:57 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Does India's sudden RCEP pullout reflect a tactical shift in favour of US?

If the US quickly signs a trade deal with India and if India retaliates against Chinese denial of access to Indian goods, the logic of India's retreat from the RCEP will acquire a new dimension

(L to R) India's Prime Minister Narendra Modi, Indonesia's President Joko Widodo, and Japan's Prime Minister Shinzo Abe talk before a group photo during the East Asia summit in Nonthaburi, Thailand, Photo: (AP/PTI)
Premium

(L to R) India's Prime Minister Narendra Modi, Indonesia's President Joko Widodo, and Japan's Prime Minister Shinzo Abe talk before a group photo during the East Asia summit in Nonthaburi, Thailand, Photo: (AP/PTI)

A K Bhattacharya
It was a big surprise that the Narendra Modi government on Monday decided not to join the Regional Comprehensive Economic Partnership (RCEP) trade deal. The prime minister was present in Bangkok to take part in the deliberations during the third RCEP Summit and India seemed set to join the new trading bloc. But almost at the eleventh hour, India pulled out of it saying that the terms of the new group would adversely affect its national interest. What went wrong at the last minute? 

The RCEP was conceived as the world’s largest trading bloc of 16 countries (10 members of
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in