India Rejects RCEP, 15 Other Nations Including Singapore Move Closer to Signing Deal

Connected to India

05 November 2019

“When I measure the RCEP Agreement with respect to the interests of all Indians, I do not get a positive answer. Therefore, neither the Talisman of Gandhiji nor my own conscience permits me to join the RCEP,” said Indian Prime Minister Narendra Modi on Monday as he announced that India would not be one of the signatories to the Regional Comprehensive Economic Partnership (RCEP).

Even as 15 of 16 nations involved in the negotiations, for what will be the largest free trade pact, agreed to sign the RCEP next year, India decided to keep away from it.

… Speaking to Connected to India, Visiting Fellow (South Asia Programme, S. Rajaratnam School of International Studies) at Nanyang Technological University, Rajeev Ranjan Chaturvedy said, “Modi has established himself as a leader taking tough calls for India’s progress and prosperity. India’s decision on RCEP was guided by Modi’s mantra of ‘Nation first’ and pure economic considerations. India’s major concerns remained unaddressed in the negotiation process. Therefore, it is a practical decision to step back and to protect India’s economic interests.”

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