In the process of evolving comparative advantage, some sectors will lose out. This, however, is not typical of FTAs but of all trade
The basic building block of the proposed RCEP - the Asean FTA - continues to be one-sided
India remains concerned that the China-dominated RCEP would be disadvantageous to its farmers and MSMEs.
He also said that if India had joined the Regional Comprehensive Economic Partnership (RCEP), farmers, labourers and industries would have been adversely affected
Officials of both the nations have been in touch with other partners in the free-trade agreement and were the real force behind the RCEP nations deciding to keep the door open for India
While at the fundamental level, India has several factors in its favour to make it a preferred investment destination, it needs to do more to attract investments
India needs an apex body for trade negotiations
India's "no" to RCEP reflects one of the many opportunities it has missed to become a solid global manufacturing base
The conflicting viewpoints on RCEP bring out the need for evidence-based policy-making and information sharing
I was disappointed when India decided to opt out of the RCEP. We had all the time in the world to negotiate and get a good deal for ourselves
The basic building bloc of the proposed RCEP - the Asean FTA - continues to be one-sided
We urgently need an institutional reform for trade policy. We need our PM to directly be involved with the new institutions.
Some experts, in addition to the government, have maintained that the reason for the walkout is India's adverse trade balance. However, many critics view this as a protectionist step
Many factors have contributed to the doubts about our ability to reap the benefits under RCEP
Here's a selection of Business Standard Opinion pieces for the day
Minister also scheduled to meet US medical devices' association
Here's a selection of Business Standard Opinion pieces for the day
What is the reason for sudden change of mind and deciding to not join RCEP?
Until India becomes a real market economy, it is unlikely to have the confidence to integrate with, and compete in, the global market economy
Now, RCEP will incur the costs of losing the Indian market which was the only worthwhile market