India should join China-backed Asian trade bloc it rejected years back, NITI Aayog CEO says
Regional Comprehensive Economic Partnership (RCEP), a top official at a government think tank said on Thursday, years after the country decided to walk out of the China-backed Asian trade bloc.
US Election Result Live Updates
Swing state results deciding who'll be new POTUS
Trump vs Harris: Who’s winning which state? Full list
The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and the 10 member-states of the Association of Southeast Asian Nations (ASEAN).
In 2019, India decided to not join the bloc, on the grounds that the deal would hurt its farmers, businesses, workers and consumers.
«India should be a part of RCEP and CPTPP and become a member,» said B V R Subrahmanyam, the CEO of NITI Aayog, a public policy think tank for the government. He said that joining the trade blocs will help India boost its manufacturing base and exports by small and medium firms that constitute 40% of the country's exports.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between 11 countries including Australia, Canada, Chile, Japan, Malaysia, Mexico, New Zealand and Singapore.
HR
Human Potential and the Future of Employment
By — Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader
Marketing
Digital marketing — Wordpress Website Development
By — Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Mark
