India should heed appeal by RCEP members to return to negotiating table; then battle hard for equitable deal
4 years, 6 months ago

India should heed appeal by RCEP members to return to negotiating table; then battle hard for equitable deal

Firstpost  

On Wednesday, representatives from the Association of South East Asian Nations, along with Japan, New Zealand, South Korea, Australia and China participated virtually in the 10th Regional Comprehensive Economic Partnership inter-sessional ministerial meeting. As the data below shows, India is already a pretty useful trade partner for most of the RCEP members: Now, imagine those numbers in a scenario where tariffs and duties are slashed following India’s hypothetical return to the fold and the signing of an agreement — the latter is something members are keen to conclude this year. In such a situation, it is not possible for India to join the RCEP agreement,” said Prime Minister Narendra Modi at last year’s Bangkok summit as the country withdrew from the negotiating table. The RCEP raises a similar dilemma — despite the fact that the ruling party, Opposition parties and a handful of irrelevant political stragglers were largely on the same page after Modi’s remarks last year. In fact, it is this circumspection and unwillingness to let go of key tariffs and duties that has seen several of India’s free trade agreement negotiations stall or fall by the wayside.

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History of this topic

Pulling Out of RCEP a Mistake, India Should Join Bloc as Soon as Possible: Montek Singh Ahluwalia
4 years ago

Pulling Out of RCEP a Mistake, India Should Join Bloc as Soon as Possible: Montek Singh Ahluwalia

News 18  

Terming India’s decision to pull out of the Regional Comprehensive Economic Partnership as a ‘mistake’, former deputy chairman of the now-defunct Planning Commission Montek Singh Ahluwalia on Thursday said the country should join the trading bloc ‘as soon as possible’. Addressing a virtual event organised by the Centre for Social and Economic Progress, Ahluwalia further said India is not going …

The Hindu Explains | Why did India stay out of the RCEP deal?
4 years, 1 month ago

The Hindu Explains | Why did India stay out of the RCEP deal?

The Hindu  

November 22, 2020 02:00 am | Updated December 04, 2021 10:32 pm IST The story so far: On November 15, the Regional Comprehensive Economic Partnership was signed by 15 countries led by China, Japan, South Korea, Australia, New Zealand, and the 10-country ASEAN group. After long negotiations, India exited the grouping last November, saying it wanted to protect its economy …

India’s no to RCEP could still be a no
4 years, 1 month ago

India’s no to RCEP could still be a no

The Hindu  

Last week, 15 East Asian countries agreed to take their economic integration several notches higher by forging the Regional Comprehensive Economic Partnership, the largest free trade agreement ever. These countries had adopted a resolution “to establish an ASEAN-led process by setting out principles” that would allow ASEAN members to “engage interested ASEAN FTA partners in establishing a regional comprehensive economic …

Was India right to leave the RCEP trade deal? | The Hindu In Focus podcast
4 years, 1 month ago

Was India right to leave the RCEP trade deal? | The Hindu In Focus podcast

The Hindu  

The Regional Comprehensive Economic Partnership, the world’s largest trade bloc of 15 countries including the 10 ASEAN members, China, Japan, South Korea, Australia and New Zealand, was signed on November 15 without India, which was part of the long-running negotiations until it withdrew last year. The day after the signing, External Affairs Minister S. Jaishankar criticised past trade agreements for …

Joining RCEP Would Have Had Negative Consequences for Indian Economy, Says S Jaishankar
4 years, 1 month ago

Joining RCEP Would Have Had Negative Consequences for Indian Economy, Says S Jaishankar

News 18  

India pulled out of the Regional Comprehensive Economic Partnership last year as joining it would have resulted in fairly negative consequences for the country’s economy, External Affairs Minister S Jaishankar said on Wednesday. In an address at an online discussion organised by the Centre for European Policy Studies, Jaishankar also forcefully pressed for reform of the United Nations, saying one …

Threat or treat: on RCEP trade deal
4 years, 1 month ago

Threat or treat: on RCEP trade deal

The Hindu  

The Regional Comprehensive Economic Partnership was signed into existence on Sunday by 15 countries led by China, Japan, South Korea, Australia, New Zealand and the 10-state ASEAN grouping, creating one of the world’s largest trading blocs. With global trade and the economy foundering on the shoals of the COVID-19 pandemic, especially as new infections in Europe and the U.S. prompt …

Deccan Dialogue: EAM Jaishankar explains RCEP stance, lauds India's Vande Bharat Mission
4 years, 1 month ago

Deccan Dialogue: EAM Jaishankar explains RCEP stance, lauds India's Vande Bharat Mission

India Today  

External Affairs Minister S Jaishankar virtually addressed the Deccan Dialogue organised by ISB, Hyderabad, on Monday. Indian and RCEP trading bloc One of the original negotiating participants, India walked out of the RCEP talks in 2019 citing "outstanding issues". As one of the 16 original participating countries, India's accession to the RCEP Agreement would be welcome in view of its …

RCEP Signatories Ready for Negotiations Once India Gives Written Request to Join Pact
4 years, 1 month ago

RCEP Signatories Ready for Negotiations Once India Gives Written Request to Join Pact

News 18  

Countries that have signed the RCEP agreement can start negotiations with India for joining the pact once New Delhi submits a written request stating its intention for the same, according to a declaration. On November 4 last year, India walked out of mega free trade agreement RCEP as negotiations failed to address New Delhi’s outstanding issues and concerns. The remaining …

India and ASEAN to expand trade despite RCEP walkout
4 years, 1 month ago

India and ASEAN to expand trade despite RCEP walkout

The Hindu  

November 12, 2020 05:35 pm | Updated 09:45 pm IST - New Delhi India and ASEAN countries said they would explore ways to increase trade between them despite India’s exit from the 15-nation Regional Comprehensive Economic Partnership agreement. The RCEP free trade agreement, which India walked out from a year ago, is expected to be signed on November 15th, between …

India opposes rejoining RCEP over China concerns
4 years, 7 months ago

India opposes rejoining RCEP over China concerns

The Hindu  

As the deadline for a response to a fresh proposal of India rejoining negotiations on the ASEAN-led trade Regional Comprehensive Economic Partnership ran out on Friday, a senior Ministry of External Affairs official indicated that global post Coronavirus concerns over China had strengthened India’s opposition to the grouping. The letter sent by the RCEP’s Trade Negotiating Committee Chairperson last month, …

Indian economy well-poised to take off; govt will hold discussions with Britain, EU on free trade agreements, says Piyush Goyal
4 years, 11 months ago

Indian economy well-poised to take off; govt will hold discussions with Britain, EU on free trade agreements, says Piyush Goyal

Firstpost  

On RCEP, Goyal said it was an “unbalanced trade agreement, which was really not fulfilling the guiding principles on which RCEP started about eight years ago, therefore India chose not to participate in it”. Davos: Asserting that the Indian economy is well-poised to take off, Union minister Piyush Goyal on Thursday said there is a lot of enthusiasm for making …

ASEAN Secretariat invites India for RCEP meeting next month in Bali, govt yet to decide on participation
4 years, 11 months ago

ASEAN Secretariat invites India for RCEP meeting next month in Bali, govt yet to decide on participation

Firstpost  

The RCEP, comprising 10-member ASEAN bloc and six other countries India, China, Japan, South Korea, Australia and New Zealand, is engaged in negotiations for a free-trade pact. New Delhi: The ASEAN Secretariat has invited India to participate in a meeting called in Bali on 3 and 4 February on RCEP agreement to sort out concerns of New Delhi, an official …

S Jaishankar says India has not closed doors on China-backed RCEP, will evaluate deal on its trade, economic merit
4 years, 11 months ago

S Jaishankar says India has not closed doors on China-backed RCEP, will evaluate deal on its trade, economic merit

Firstpost  

India has not closed its doors on the Regional Comprehensive Economic Partnership and will carry out a cost-benefit analysis to evaluate its merit, External Affairs Minister S Jaishankar said on Wednesday New Delhi: India has not closed its doors on the Regional Comprehensive Economic Partnership and will carry out a cost-benefit analysis to evaluate its merit, External Affairs Minister S …

After RCEP, what’s the road ahead?
5 years, 1 month ago

After RCEP, what’s the road ahead?

Deccan Chronicle  

The Indian government must be complimented for showing conviction in standing up to pressure, both internal and external, and not bowing to conditions that didn’t take account of its core national interests in Bangkok last week. It’s clear that India refused to play ball as the proposed Regional Comprehensive Economic Partnership, or RCEP, in Prime Minister Narendra Modi’s words, “does …

The China factor in India’s RCEP move
5 years, 2 months ago

The China factor in India’s RCEP move

The Hindu  

Prime Minister Narendra Modi’s ASEAN sojourn this year will be remembered for India finally rejecting the Regional Comprehensive Economic Partnership trade deal. Apart from the 10 member states of the Association of Southeast Asian Nations, the mega deal was to include the bloc’s six free trade partners — China, India, South Korea, Japan, New Zealand and Australia. In his speech …

Opinion | India is better off not joining RCEP
5 years, 2 months ago

Opinion | India is better off not joining RCEP

Live Mint  

After recent months of back and forth attempting to negotiate a better trade agreement for India to join the Regional Comprehensive Economic Partnership, the Indian government decided not to join the trade forum and be excluded from what has been seen as one of the biggest plurilateral free-trade partnerships in the world. As a number of commentators may remain divided …

Walking out of RCEP deal wasn't a 'bold decision', it was induced by fear of competition and will end up only harming India in long run
5 years, 2 months ago

Walking out of RCEP deal wasn't a 'bold decision', it was induced by fear of competition and will end up only harming India in long run

Firstpost  

RCEP deal: It is strange to call a decision a metric of ‘strength’, that has been taken out of fear. Regardless of the Opposition’s or government’s narrative, the fact remains that India’s move to walk out of RCEP deal was borne out of worry against competition. The tragedy lies in the fact that even two decades after liberalization, the Indian …

After India declines to join RCEP, China says it will follow principle of 'mutual understanding' to resolve outstanding issues
5 years, 2 months ago

After India declines to join RCEP, China says it will follow principle of 'mutual understanding' to resolve outstanding issues

Firstpost  

Prime Minister Narendra Modi on Monday conveyed India’s decision not to join the RCEP deal at a summit meeting of the 16-nation bloc, effectively wrecking its aim to create the world’s largest free trade area having half of the world’s population. Beijing: China said on Tuesday that it will follow the principle of “mutual understanding and accommodation” to resolve the …

India decided not to join RCEP in national interest, reviewing other FTAs: Piyush Goyal
5 years, 2 months ago

India decided not to join RCEP in national interest, reviewing other FTAs: Piyush Goyal

Firstpost  

India stood its ground at RCEP negotiations and in the national interest decided not to join the China-led mega-trade pact, said Commerce and Industry Minister Piyush Goyal on Tuesday New Delhi: India stood its ground at RCEP negotiations and in the national interest decided not to join the China-led mega-trade pact, said Commerce and Industry Minister Piyush Goyal on Tuesday. …

India pulls out of RCEP: Industry, traders and farmers welcome Narendra Modi govt's decision
5 years, 2 months ago

India pulls out of RCEP: Industry, traders and farmers welcome Narendra Modi govt's decision

Firstpost  

Industry, traders and farmers on Monday appreciated the Modi government’s decision not to join China-backed mega Regional Comprehensive Economic Partnership New Delhi: Industry, traders and farmers on Monday appreciated the Modi government’s decision not to join China-backed mega Regional Comprehensive Economic Partnership. Prime Minister Narendra Modi in Bangkok said India will not join China-backed RCEP deal as negotiations failed to …

Narendra Modi has done well to keep India out of RCEP, but WTO-style bargaining for future entry is a good idea
5 years, 2 months ago

Narendra Modi has done well to keep India out of RCEP, but WTO-style bargaining for future entry is a good idea

Firstpost  

As for RCEP, India must keep its doors open for possible future engagements. We might as well invent a new-age idiom if we were to invite trouble in a manner that China would trouble India’s economy: “Come dragon, gore me”. In such a context, Prime Minister Narendra Modi has done the wise thing in keeping India out of the ambitious …

Congress claims victory after India decides not to join RCEP, forceful opposition ensured BJP govt backs out, says Randeep Singh Surjewala
5 years, 2 months ago

Congress claims victory after India decides not to join RCEP, forceful opposition ensured BJP govt backs out, says Randeep Singh Surjewala

Firstpost  

With India deciding not to join the Regional Comprehensive Economic Partnership, the Congress on Monday claimed victory saying its forceful opposition has ensured that the BJP government backs out from bartering the interests of farmers, dairy producers, fishermen and small and medium businessmen New Delhi: With India deciding not to join the Regional Comprehensive Economic Partnership, the Congress on Monday …

ICCFM welcomes India's withdrawal from RCEP
5 years, 2 months ago

ICCFM welcomes India's withdrawal from RCEP

Op India  

After it was reported that India has decided against joining the RCEP in its present form, Indian Coordination Committee of Farmers’ Movements has welcomed the move, and has called for India to formally withdraw from all RCEP negotiation and similar Free Trade Agreements. The full statement issued by ICCFM is given below: “INDIA HAS TO WITHDRAW FORMALLY AND FULLY FROM …

India will not join Asian trade deal RCEP: Narendra Modi says agreement doesn't reflect original intent, can't compromise on core interests
5 years, 2 months ago

India will not join Asian trade deal RCEP: Narendra Modi says agreement doesn't reflect original intent, can't compromise on core interests

Firstpost  

India has decided not to join the Regional Comprehensive Economic Partnership agreement as its key concerns have not been addressed. Prime Minister Narendra Modi, attending the ASEAN summit in Bangkok, stood firm on India’s concerns in the trade deal not being addressed and decided there cannot be any compromise on core interests India has decided not to join the Regional …

India storms out of RCEP, says trade deal hurts Indian farmers
5 years, 2 months ago

India storms out of RCEP, says trade deal hurts Indian farmers

The Hindu  

Seven years after India joined negotiations for the 16-nation ASEAN -led RCEP or Free Trade Agreement, Prime Minister Narendra Modi announced on Monday that India was dropping out of the agreement, citing its negative effects on “farmers, MSMEs and dairy sector”. Later in the evening, a joint leaders’ statement indicated that despite India’s “unresolved” outstanding issues, other countries were prepared …

India not ready to join RCEP trade deal, cites ‘outstanding issues’
5 years, 2 months ago

India not ready to join RCEP trade deal, cites ‘outstanding issues’

Hindustan Times  

Prime Minister Narendra Modi has decided not to join the Regional Comprehensive Economic Partnership, or RCEP, in order to protect service workers and farmers, an official told reporters in New Delhi on Monday. India’s final decision will depend on satisfactory resolution of these issues.” India is welcome to join RCEP whenever it’s ready, Vice Foreign Minister Le Yucheng told reporters …

All you wanted to know about the RCEP agreement
5 years, 2 months ago

All you wanted to know about the RCEP agreement

Op India  

The Congress party’s attack on the proposed RCEP agreement continued with former president Rahul Gandhi tweeting an article by The Wire alleging that the FTA will flood India with cheap goods. The central government has also said that India’s trade deficit with other countries has been increasing as a result of various Free Trade Agreements signed by previous UPA government. …

CII backs signing of RCEP, farmers up against it
5 years, 2 months ago

CII backs signing of RCEP, farmers up against it

The Hindu  

Even as farmers across the country are all set to hold protests on Monday against India joining the Regional Comprehensive Economic Partnership, the Confederation of Indian Industry, one of India’s largest industry bodies, has said there are a number of benefits the country will get from the RCEP, including being part of a much larger supply chain and being able …

Sonia Gandhi slams Modi govt over RCEP, says trade pact will deal 'body blow' to Indian economy, cause hardship for farmers
5 years, 2 months ago

Sonia Gandhi slams Modi govt over RCEP, says trade pact will deal 'body blow' to Indian economy, cause hardship for farmers

Firstpost  

Congress president Sonia Gandhi on Saturday launched a blistering attack on the government on the state of the economy, saying signing the RCEP agreement will result in “untold hardship” for farmers, shopkeepers and small enterprises New Delhi: Congress president Sonia Gandhi on Saturday launched a blistering attack on the government on the state of the economy, saying signing the RCEP …

RCEP pact will deal body blow to Indian economy: Sonia Gandhi
5 years, 2 months ago

RCEP pact will deal body blow to Indian economy: Sonia Gandhi

The Hindu  

Congress president Sonia Gandhi on Saturday said the Indian economy was under siege and signing the proposed trade agreement, the Regional Comprehensive Economic Partnership, would deliver a “body blow to the economy, resulting in untold hardship for farmers, shopkeepers and small enterprises”. Addressing a meeting of general secretaries, heads of frontal organisations and senior leaders at the All India Congress …

Mutually beneficial RCEP trade deal in India's interest, have put forward 'reasonable proposals', Narendra Modi tells Bangkok newspaper
5 years, 2 months ago

Mutually beneficial RCEP trade deal in India's interest, have put forward 'reasonable proposals', Narendra Modi tells Bangkok newspaper

Firstpost  

Prime Minister Narendra Modi said India is ‘clear’ that a mutually beneficial RCEP, in which all sides gain reasonably, is in interests of the country and of all nations involved in the negotiation Bangkok: As negotiations to finalise the long-overdue Regional Comprehensive Economic Partnership enter final stages, Prime Minister Narendra Modi said India has put forward “reasonable proposals” in a …

RCEP pact will prove to be 'farmers' destruction agreement': Priyanka Gandhi
5 years, 2 months ago

RCEP pact will prove to be 'farmers' destruction agreement': Priyanka Gandhi

India TV News  

Congress leader Priyanka Gandhi Vadra claimed on Saturday that if India signs the RCEP pact it will prove to be "farmers' destruction agreement" as in times of economic slowdown, Indian markets should provide maximum help to domestic farmers. The Regional Comprehensive Economic Partnership, comprising the 10-member ASEAN bloc and six other countries -- India, China, Japan, South Korea, Australia and …

Mutually beneficial RCEP deal is in interests of all nations: Modi
5 years, 2 months ago

Mutually beneficial RCEP deal is in interests of all nations: Modi

The Hindu  

As negotiations to finalise the long-overdue Regional Comprehensive Economic Partnership enter final stages, Prime Minister Narendra Modi said India has put forward reasonable proposals in a clear manner and is engaged in the talks with sincerity for the free trade deal. Mr. Modi said India is clear that a mutually beneficial RCEP, in which all sides gain reasonably, is in …

Ahead of summit, Indian stand on RCEP unclear
5 years, 2 months ago

Ahead of summit, Indian stand on RCEP unclear

The Hindu  

India will not sign a free trade agreement just because there is a deadline, Union Commerce Minister Piyush Goyal said here on Wednesday. Prime Minister Narendra Modi will attend the RCEP summit in Bangkok on November 4, and Mr. Goyal could also travel there on November 2 for the last RCEP ministerial round before the summit. The two conflicting statements …

As concerns over China mount, India may take more time to sign RCEP
5 years, 2 months ago

As concerns over China mount, India may take more time to sign RCEP

Live Mint  

New Delhi: India may take more time to conclude negotiations on joining the Regional Comprehensive Economic Partnership, a mega trade deal that aims to bring together 16 countries from Southeast Asia and neighbouring areas. Speaking at the second Annual India Leadership Summit organised by US India Strategic Partnership Forum, BJP general secretary Ram Madhav said the Indian government had expressed …

Are RCEP trade negotiations on sticky ground?
5 years, 2 months ago

Are RCEP trade negotiations on sticky ground?

The Hindu  

The story so far: Negotiations on the final agreement under the Regional Comprehensive Economic Partnership are becoming increasingly urgent as the deadline approaches. Once finalised, the RCEP trade grouping will be one of the world’s biggest free trade pacts as it includes the 10 Association of South East Asian Nations, as well as India, China, Australia, New Zealand, Japan and …

RCEP group, India fail to reach a common ground
5 years, 2 months ago

RCEP group, India fail to reach a common ground

Live Mint  

Trade ministers of the 16-nation Regional Comprehensive Economic Partnership grouping will meet once again on 1 November after failing to reconcile their positions with India’s tough stand on market access, investment and e-commerce, at the 11-12 October meet in Bangkok in what was supposed to be their last ministerial meeting. “Positions are narrowing and all countries have been given time …

Staying out of RCEP trading bloc will only isolate India: Piyush Goyal
5 years, 2 months ago

Staying out of RCEP trading bloc will only isolate India: Piyush Goyal

Live Mint  

New Delhi: In a clear indication of India’s intentions ahead of the final ministerial meeting of the Regional Comprehensive Economic Partnership grouping on Saturday, trade minister Piyush Goyal on Thursday defended the free trade agreement among the 16 economies, holding that India cannot remain isolated in a globalized world. Prime Minister Narendra Modi held a meeting with his senior Cabinet …

PM Modi chairs meet to decide New Delhi’s stand on RCEP deal
5 years, 3 months ago

PM Modi chairs meet to decide New Delhi’s stand on RCEP deal

Live Mint  

Key ministers of the government came to a huddle on Monday as Prime Minister Narendra Modi chaired a meeting to take a final call on whether India should go ahead with the Regional Comprehensive Economic Partnership deal or not. The ruling Bharatiya Janata Party also separately conducted a meeting on RCEP on Monday attended by officials from dairy cooperative Amul …

Should India stay with Regional Comprehensive Economic Partnership mooted by ASEAN?
5 years, 6 months ago

Should India stay with Regional Comprehensive Economic Partnership mooted by ASEAN?

The Hindu  

The story so far: The Association of South East Asian Nations, which announced the idea of a Regional Comprehensive Economic Partnership in 2012, is pushing stakeholders to conclude talks by the end of 2019 and take it forward. At the ASEAN summit which ended in Bangkok last Sunday, the Malaysian Prime Minister, Mahathir Mohamad, said he is willing to push …

RCEP next steps: on India's free trade agreement
5 years, 6 months ago

RCEP next steps: on India's free trade agreement

The Hindu  

Leaders of the 10-member Association of South East Asian Nations have resoundingly committed to conclude negotiations for the Regional Comprehensive Economic Partnership free trade agreement by the end of 2019. RCEP includes ASEAN’s FTA partners — India, China, Japan, South Korea, Australia and New Zealand — and the FTA would encompass 40% of all global trade among economies that make …

It’s premature to count India out of the RCEP, says Centre
5 years, 6 months ago

It’s premature to count India out of the RCEP, says Centre

The Hindu  

Government officials said it would be “premature” to suggest that India could be cut out of the Regional Comprehensive Economic Partnership being negotiated by 16 countries led by the ASEAN bloc, if it doesn’t agree to join it by the year-end. Reiterating that India is “consistently” engaged with RCEP negotiations, which will see a free trade agreement which includes ASEAN …

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