Recipe for change

If India has to have a globally competitive industry, the government must emulate China on creating the right ecosystem

The next big disruption in India’s trade policy may happen by the end of the year if the 16 members of the proposed Regional Comprehensive Economic Partnership (RCEP) reach a final agreement. The potential of the world’s largest free trade area, which includes the world’s two most populous and fastest growing major economies, China and India, is tantalising. That this may happen when the West, led by the United States, is turning its back on openness is significant. Given trade’s close link with prosperity and indeed geo-strategic leadership, RCEP could well be the beginning of a decisive shift in economic