"Even though the magnitude of impact from trade diversion on India when the TPP is in place can be debated, it is certain that trade and investment diversions hurting the Indian economy is most likely to occur."Discuss how the recent changes in global trade regimes might affect Indian Economy.

Hint:
India is not a member of both the trading giants APEC and TPP. With, Trans Pacific Partnership promoting Free Trade Area and aims at liberalizing trade in nearly all goods and services, may bring problems to Indian trade industry which already lacks in its manufacturing industries. Even, trade and investment links with several anticipated reduction in barriers to trade in services among TPP members may affect India’s service sector which is the backbone for the country at present.

Topics: GS-II: Bilateral Regional and Global Groupings and Agreements