The official said the government has been sensitive to the concerns of all sectors and has been proactively taking measures to address them.
Regional FTAs are out, but bilateral ones are as tough
Asked about India's stand on RCEP, MEA Spokesperson Raveesh Kumar said India's concerns and requests are available with the other 15 RCEP members.
Talks with major economies like the EU and US, among others, on trade and investment deals are stuck on similar issues
What is the reason for sudden change of mind and deciding to not join RCEP?
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
India pulled out at the last minute amid worries that the deal would unleash cheaper imports from countries like China
The latest twist in India's policy on foreign trade may, however, benefit the US
Fifteen other nations, however, went ahead with the deal after the conclusion of the summit in Bangkok, which was also attended by Prime Minister Narendra Modi
Small businesses that had suffered post demonetisation and GST would have suffered a huge blow had India signed on
Modi and his ministers are now selling his refusal to join RCEP as a victory for India's poor
The agreement also touches on services and on protecting intellectual property
Here's a selection of Business Standard Opinion pieces for the day.
My hope remains that we bargain hard but in good faith and with the intention to eventually join the grouping, says Panagariya
'India had significant issues of core interest that remain unresolved' MEA said.
He also said that the deal would be bigger and better with India in it
The statement came days after PM Modi said a mutually beneficial RCEP, in which all sides gain reasonably, is in interests of India and of all the partners
The possible delay in firming up the Regional Comprehensive Economic Partnership (RCEP) during the 3-day ASEAN summit in Bangkok has been attributed to India's 'new demands'
The comments threw new doubt over the participation of India in the China-backed 16-nation Regional Comprehensive Economic Partnership
If agreeing to RCEP means crossing those lines, I think we should wait, we should rush into an agreement that is going to have such deleterious effects on an industry, which is already crippled