RCEP Play

The ongoing negotiations for a free trade agreement among the 16-member Regional Comprehensive Economic Partnership (RCEP) has been stuck mostly because of India’s reluctance to further open up its market to China. Indian industry representatives have been opposing the RCEP, apprehending that it would lead to a surge in imports that will harm the domestic industry further. Analysts have said that India was unlikely to gain major market access to China even if Beijing substantially reduces its tariff levels, as New Delhi has not negotiated non-tariff barriers with RCEP members, especially China.