“Given India’s inability to negotiate a good services deal in the past, RCEP negotiations, especially with China, need a second thought. Indian industry will have more to lose than gain if it agrees to a liberal tariff elimination schedule specially with respect to China. At a time of growing protectionism and the US’ stance towards China, opening our market to China can be prove to be disastrous, given that proper standards and processes are not in place in India," the note authored by NITI Aayog member V.K. Saraswat, Mumbai-based economist Prachi Priya and Aniruddha Ghosh, who works in the office of Saraswat, said.