There are several apprehensions in India regarding the proposed Regional Comprehensive Economic Partnership (RCEP). What are such apprehensions that make India cautious in these dealings?
1. For India, the RCEP deal carries huge import risk from China
2. RCEP proposes to include only manufactured goods and not services
Select the correct option from the codes given below:
Regional Comprehensive Economic Partnership (RCEP) is a 16-member group, including 10 ASEAN nations & 6 others Australia, China, India, Japan, Korea & New Zealand. The plan is to include goods, services, investments, competition and intellectual property under the pact. Several rounds of negotiations have already taken place. India’s concerns are as follows:
- India’s average import duties are among the highest; It will be forced to lower duties
- India faces huge import risk from China, with which it already has a trade deficit of $36 billion even without having any FTAs.
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