RCEP

RCEP ACCOUNTS FOR 25% OF GLOBAL GDP ,

30% OF GLOBAL TRADE AND 26% OF FDI
FLOWS
HOW IT WILL BENEFIT INDIA?
1 FIRST MOVER’S ADVANTAGE TO INDIA
2 IF INDIA FAILS TO JOIN RCEP , IT WILL
MISS THE CHANCE OF INITIAL
NEGOTIATIONS AND FIXING OF STANDARDS
3 IT WILL HELP INDIA IN BOOSTING ACT
EAST POLICY
4. IT WILL GIVE INDIA COMPARATIVE
ADVANTAGE.
5 OPPORTUNITIES FOR INDIAN COMPANIES
TO ACCESS NEW MARKET.
6 IT WILL ENHANCE STRATEGIC AND
ECONOMIC STATUS OF INDIA’

CONS OF RCEP:
1 BIGGEST CONCERN IN WHOLE DEAL OF
CHINA
2. MADE IN CHINA GOODS WILL KILL LOCAL
MANUFACTURERS
3 WORST HIT: STEEL AND ALUMINIUM ,
COPPER, PHARMA AND TEXTILE
4 THREAT TO FARM LIVELIHOODS AND OUR
DAIRY SECTOR
5 INDIA WILL EXPERIENCE A LOSS OF
CUSTOM REVENUE
6 ACCORDING TO PAST DATA, EXCEPT WITH
SRILANKA, NO OTHER FTA DEAL PROVED
SUCCESS.
WHAT SHOULD BE INDIA’S STRATEGY?
1 INDIA SHOULD CONTINUE DUAL TARIFF
STRUCTURE.
2 INDIA SHOULD EVOLVE A FRAMEWORK
TO NEGOTIATE DUMPING OF GOODS BY
OTHER COUNTRIES.