Recently, India refused to join RCEP in ASEAN summit in Bangkok.
Issue
Context
Recently, India refused to join RCEP in ASEAN summit in Bangkok.
Background
Analysis
Why did India opt out of RCEP?
India chose to opt out of RCEP because of following reasons:
Not Joining RCEP will also hurt Indian Economy
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Benefits for India of Joining RCEP
Way Forward
The assumption that the world will bend to our demands given the size of our market doesn’t hold good any more. We need to put our house in order to take on global competition and benefit from export opportunities that external markets offer, and such multilateral agreements create.
Learning Aid
Verifying, please be patient.