Why India should not become a part of RCEP
The Regional Comprehensive Economic Partnership, or RCEP, isn’t what it appears to be. Thus, whereas India’s total trade deficit stood at $12,915.48 billion in 1999-2000, the same deficit zoomed to $184,000.33 billion. In reality, India’s foreign trade deficit woes continue unabated even today, thus leading to the desperation for quick remedial measures. In 2014-2015, India’s trade stood at minus $137,694.93 billion ; in 2015-2016 minus $118,716.67 billion ; in 2016-2017 minus $108,504.60 billion ; in 2017-2018 minus $162,054.83 billion and in 2018-2019 minus $184,000.33 billion. New Delhi’s national self-interest reigns supreme in front of the industrially advanced and financially robust China, Japan, South Korea and the likes of Australia, Brunei, Indonesia, Malaysia, New Zealand, Singapore and Thailand, who inflict a consistent and ceaseless high trade deficit on India.
India must push for faster economic growth as it navigates today’s bipolar world
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