-The Hindu The circumstances under which New Delhi had distanced itself from the RCEP negotiations have hardly improved Last week, 15 East Asian countries agreed to take their economic integration several notches higher by forging the Regional Comprehensive Economic Partnership (RCEP), the largest free trade agreement (FTA) ever. In 2019, RCEP members accounted for about 30% of world output and population and 28% of world trade. But more importantly, about 44% of...
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A day after RCEP, Jaishankar slams trade pacts, globalisation -Suhasini Haidar
-The Hindu ‘The effect of past trade agreements has been to deindustrialise some sectors’ India has allowed other countries “unfair” trade and manufacturing advantages “in the name of openness”, asserted External Affairs Minister S. Jaishankar, in a speech criticising the effects of globalisation on Monday. Speaking just a day after the 15-nation Regional Comprehensive Economic Partnership (RCEP) was signed, Mr. Jaishankar was particularly scathing of trade agreements, which he said had forced...
More »What the RCEP retraction foretells -Renu Kohli
-The Telegraph Without simultaneous steps to raise productivity, passive acceptance of lost competitiveness has shaped India's approach India’s last-minute withdrawal from the Regional Comprehensive Economic Partnership agreement has elicited much commentary. That it happened after exciting positive signals from senior government functionaries amidst vociferous opposition by noted lobby groups surprised all. A sizeable segment, however, backs the retreat, noting India’s current economic situation and low competitiveness to describe it as economic and...
More »RCEP's threat to agriculture staved off, but that does not solve the sector's problems -Siraj Hussain
-TheWire.in In the last five years, India’s exports of agricultural commodities have gone down from $43.25 billion in FY 2014 to $39.20 billion in FY’2019. The run-up to the RCEP leader summit in Bangkok last week was truly amazing. While farmers and trade union activists from both the Left and Right were opposed to India signing the RCEP, the government seemed to be in two minds. Indeed, senior ministers were reluctant...
More »Dr. Surjit S Bhalla, economist and Executive Director for India on the board of International Monetary Fund (IMF), interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line “Join the Regional Comprehensive Economic Partnership (RCEP), but do not ignore your internal market and demand. Ninety per cent of our bad export story is domestic challenges, 10 per cent is external environment or external policy,” says Economist Surjit S Bhalla. Seventy-one-year old Bhalla has a tough task ahead — to make New Delhi’s voice louder at the international forums as he is set to take charge...
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