16 SEP,2019 | MEDC
The Regional Comprehensive Economic Partnership (RCEP) is a proposed Free Trade Agreement (FTA) between 10 ASEAN economies and New Zealand, Australia, China, India, Japan, and South Korea. Most Indian industries seem to be in favour of the deal, which will likely facilitate India’s regional economic integration. To the rest of the world, RCEP will be a powerful collective economic statement from the Indo-Pacific countries. Beyond the obvious increased trade in goods and services generated by the RCEP, it will also facilitate the access of international digital markets by Indian businesses. The Commerce Minister has rightly said that while the government would strive to protect the interests of the majority of Indian industries, the overall discussions cannot be hijacked by one or two sectors.
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