India decides against joining RCEP trade deal
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."
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