It took nine years, many sleepless nights of intense negotiations, gargantuan mugs of coffee to stay awake, and a sea of paperwork. Even as Donald Trump was busy looking for ways to find holes in US presidential election results, a bunch of seasoned negotiators and officials on the other side of the globe diligently stitched what would create world’s most-powerful trade bloc. Signed on November 15 by 10 ASEAN countries and their trade partners,
Business News›Prime›Economy›RCEP: India, out on a self-reliance walk, tossed a USD25 trillion market. Here’s what others got.
Trade
RCEP: India, out on a self-reliance walk, tossed a USD25 trillion market. Here’s what others got.
Synopsis
Pulling out of the RCEP deal created an opportunity for India to strengthen its domestic industries. However, as many thought, the biggest winner might not be China. Other members of RCEP may benefit even more. Experts believe staying out of RCEP will exclude India from regional supply chains and further entrench its inward-looking character. Should India do a rethink?
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