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India steps back from RCEP: PM says 'my conscience wont permit to join it'

  •   Mon, Nov 04 2019 06:44:44 PM

Bangkok, Nov 4 (IANS): India on Monday decided against joining the 16-nation RCEP trade deal, saying it was not shying away from opening up to global competition across sectors but had made a strong case for an outcome which is favourable to all countries and all sectors.

According to sources, in his speech at the RCEP summit, Prime Minister Narendra Modi said that "the present form of the RCEP Agreement does not fully reflect the basic spirit and the agreed guiding principles of RCEP. It also does not address satisfactorily India's outstanding issues and concerns in such a situation."

In his address, Prime Minister Narendra Modi also said: "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".
  

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  • SmR, Karkala

    Mon, Nov 04 2019

    In Kerala assembly ruling Left Democratic Front and Congress-led United Democratic Front unanimously passed a resolution urging the Centre not to sign the Regional Comprehensive Economic Partnership (RCEP), a free-trade agreement involving 16 nations in the Asia-Oceania region.
    If goods from partner countries flew into India without any restrictions, our agriculture sector and medium and small scale industries like poultry, dairy, fisheries will face huge challenges.
    It will also lead to huge unemployment and socio-economic crisis…. Rubber, coffee, tea and pepper, and other spices will also face a lot of crises due to free-trade deals and unrestricted imports.
    Countries like China, where manufacturing costs are relatively cheaper than India, will dump more goods because of the agreement.
    Since countries like New Zealand and Australia are milk-producing countries, dairy businesses in India will also take a severe hit.
    India’s trade deficit with ASEAN has increased from $5 billion in 2011 to $ 22 b. in 2019, prompting India to review ASEAN agreement. Then what is the logic of making it more comprehensive and expanding it to Pacific countries and China with whom we already have a huge deficit?
    RCEP pact is the body blow to already tottering the Indian economy that was never recovered after PM Modi's botched 'Demonetisation'.
    If it is not PM Modi's conscience but Keralites who are the first state to oppose the agreement. It is a huge victory for farmers and small scale manufacturers.

    Jai Hind

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  • Rolf, Dubai

    Mon, Nov 04 2019

    samjo jo dargaya who margaya.

    36 Chest is shrinking.

    DisAgree Agree [1] Reply Report Abuse

  • ca girishkk, m'lore/dxb

    Mon, Nov 04 2019

    Jai ho Shriman Rahul Gandhiji...., your noble voice/concerns made pakodanomists learn something......!!!!

    DisAgree [1] Agree [7] Reply Report Abuse


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Title: India steps back from RCEP: PM says 'my conscience wont permit to join it'



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