At HT Leadership Summit, Piyush Goyal explains why India didn't sign RCEP
2 years, 1 month ago

At HT Leadership Summit, Piyush Goyal explains why India didn't sign RCEP

Hindustan Times  

Union commerce minister Piyush Goyal on Saturday offered an insight into why India opted out of the China-led Regional Comprehensive Economic Partnership, saying it was due to concerns expressed by stakeholders within the MSME and dairy sectors. Union minister Piyush Goyal at the HT Leadership Summit "Modi government does not sign FTAs for the sake of doing so. "… not in our interest to enter this agreement as it would have fairly immediate negative consequences for our own economy," he said while talking about trade deals with the European Union. READ | RCEP would have hurt India’s economy, EU FTA not easy: S Jaishankar Goyal today took a swipe at the Congress, saying, "Under previous governments, India signed unfair trade deals.

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History of this topic

Sri Lanka, Bangladesh mull over joining RCEP bloc
1 year, 2 months ago

Sri Lanka, Bangladesh mull over joining RCEP bloc

The Hindu  

Four years after India walked out of the Regional Comprehensive Economic Partnership agreement, neighbours Sri Lanka and Bangladesh are now considering their chances of membership in the 15-nation trading bloc. Vast potential The Sri Lankan Presidential Secretariat confirmed the government’s application for RCEP membership in an August statement, saying that it recognised “the potential of this vast trade block comprising …

Chinese minister says India free to join RCEP trade bloc
1 year, 3 months ago

Chinese minister says India free to join RCEP trade bloc

Hindustan Times  

India is free to join the Regional Comprehensive Economic Partnership, China's Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing "very fast". The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and 10 …

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin
2 years, 7 months ago

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin

The Hindu  

India signalled its readiness to join a new economic initiative led by the United States for the region, as Prime Minister Narendra Modi joined U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and leaders of 10 countries, who joined virtually, for the launch of the Indo-Pacific Economic Framework for Prosperity in Tokyo on May 23. U.S. officials made it …

Japan still hopes India will re-join RCEP: Japan Cabinet official Noriyuki Shikata
2 years, 9 months ago

Japan still hopes India will re-join RCEP: Japan Cabinet official Noriyuki Shikata

The Hindu  

Japan has still not given up hope that India might reconsider joining the Regional Comprehensive Economic Partnership that it quit in 2019, a senior Japanese official said, indicating that India-Japan collaborations in other countries may be impacted if India continues to stay out. “RCEP will benefit the Indian economy with a better supply chain, especially with ASEAN countries,” Japan’s Cabinet …

Amazon 'East India Company': Economic Nationalism Under Modi Is Out of Control
3 years, 3 months ago

Amazon 'East India Company': Economic Nationalism Under Modi Is Out of Control

The Quint  

After attacking Infosys recently, Panchjanya, an RSS-linked magazine, has now targeted Amazon, calling it the "second generation" of the East India Company and accusing it of corrupt practices. Prime Minister Narendra Modi had backed off from the RCEP — a retreat that ex-Foreign Secretary Shyam Saran called a “short-sighted move” that “left India out in the cold” — because of …

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 …

RCEP and China: A deal that can make a difference
4 years ago

RCEP and China: A deal that can make a difference

The Hindu  

Amonth after the signing of the Regional Comprehensive Economic Partnership agreement by 15 countries in the Asia-Pacific region, speculation on what its economic and strategic fallout could be has waned. Moreover, other than reducing tariffs from already low levels and harmonising clauses relating to different aspects of trade in the different agreements that rule in the region, the new deal …

India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar
4 years ago

India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar

News 18  

India and Australia are in discussions for a bilateral free trade agreement, Indian Foreign Minister Subrahmanyam Jaishankar said on Wednesday, following New Delhi's decision to walk out of a China-backed trade bloc. "There is a discussion on a free trade agreement, a bilateral free trade agreement as well because, as you know, we didn't sign the RCEP," Jaishankar said in …

Hope India Would Revisit Merits of Joining RCEP, Says Singapore PM Lee Hsien Loong
4 years ago

Hope India Would Revisit Merits of Joining RCEP, Says Singapore PM Lee Hsien Loong

News 18  

Singapore looks forward to deepening the partnership between India and the ASEAN, Prime Minister Lee Hsien Loong said on Monday as he expressed hope that New Delhi would revisit the merits of joining the Regional Comprehensive Economic Partnership in the future. India's Act East policy expresses Prime Minister Narendra Modi's intention to unlock India's full potential through greater openness and …

Sreeram Chaulia | Beyond the RCEP: India matters in Indo-Pacific
4 years, 1 month ago

Sreeram Chaulia | Beyond the RCEP: India matters in Indo-Pacific

Deccan Chronicle  

Since the signing of the Regional Comprehensive Economic Partnership agreement by 15 nations on November 15, criticism of India for sitting out the mega free trade pact has arisen in some quarters. Signing these FTAs did increase overall trade volumes between India and its partner countries, but India’s market became more open to imports without reciprocal benefits for Indian exports. …

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 …

Leaving RCEP was a short-sighted decision, says former Foreign Secretary Shyam Saran
4 years, 1 month ago

Leaving RCEP was a short-sighted decision, says former Foreign Secretary Shyam Saran

The Hindu  

The Regional Comprehensive Economic Partnership, a 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. In an interview with The Hindu, former Foreign Secretary Shyam Saran says the decision to opt out …

Trade pacts: Jaishankar’s views reflect language used in 1970s, says Chidambaram
4 years, 1 month ago

Trade pacts: Jaishankar’s views reflect language used in 1970s, says Chidambaram

The Hindu  

Former Finance Minister P. Chidambaram on Tuesday said External Affairs Minister S. Jaishankar’s views on trade agreements were similar to the language used in the 1970s and claimed that several English newspapers have noted that India would be “better off” by being a part of the regional trade bloc, the Regional Comprehensive Economic Partnership. I would reserve a final view …

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 …

A day after RCEP, Jaishankar slams trade pacts, globalisation
4 years, 1 month ago

A day after RCEP, Jaishankar slams trade pacts, globalisation

The Hindu  

India has allowed other countries “unfair” trade and manufacturing advantages “in the name of openness”, asserted External Affairs Minister S. Jaishankar, in a speech criticising the effects of globalisation on Monday. Speaking just a day after the 15-nation Regional Comprehensive Economic Partnership was signed, Mr. Jaishankar was particularly scathing of trade agreements, which he said had forced India to “deindustrialise”. …

What happens now the RCEP trade deal, the world’s biggest, has been signed?
4 years, 1 month ago

What happens now the RCEP trade deal, the world’s biggest, has been signed?

Live Mint  

Fifteen Asia-Pacific economies signed what could become the world's largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations : Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, …

Explainer: What Happens Now The RCEP Trade Deal Has Been Signed?
4 years, 1 month ago

Explainer: What Happens Now The RCEP Trade Deal Has Been Signed?

News 18  

Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations : Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, …

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 …

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year
4 years, 1 month ago

China, ASEAN, other Asian nations sign world's biggest trade deal, India withdrew last year

India TV News  

China and 14 other Asian countries have agreed to form the world's largest free-trade bloc with nearly a third of all economic activity. The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations. "RCEP will soon be ratified by signatory countries and take …

China-led mega trade bloc RCEP takes off
4 years, 1 month ago

China-led mega trade bloc RCEP takes off

The Hindu  

The Regional Comprehensive Economic Partnership, a mega trade bloc comprising 15 countries led by China that came into existence on Sunday, said India would have to write expressing “intention” to join the organisation to restart negotiation for membership. “The RCEP signatory states will commence negotiations with India at any time after the signing of the RCEP Agreement once India submits …

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 …

15 Asian Nations Sign World's Largest Free Trade Pact in Major Coup for China, India Absent
4 years, 1 month ago

15 Asian Nations Sign World's Largest Free Trade Pact in Major Coup for China, India Absent

News 18  

Fifteen Asia-Pacific countries on Sunday signed the world’s biggest free trade deal, seen as a huge coup for China in extending its influence. “It clearly shows that multilateralism is the right way, and represents the right direction of the global economy and humanity’s progress.” The agreement to lower tariffs and open up the services trade within the bloc does not …

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 …

China, 14 Asian nations to sign world’s biggest free-trade deal this weekend
4 years, 1 month ago

China, 14 Asian nations to sign world’s biggest free-trade deal this weekend

Live Mint  

Fifteen Asia-Pacific nations including China aim to clinch the world’s largest free-trade agreement this weekend, the culmination of Beijing’s decade-long quest for greater economic integration with a region that encompasses nearly a third of the global gross domestic product. Malaysia’s Trade Minister Azmin Ali told reporters the deal would be signed on Sunday, calling it the culmination of “eight years …

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