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Why FM should stick to math & avoid grand gestures this Budget

Despite catchy slogans, we have built a bloated bureaucracy that has no bearing with the digital age.
The Economic Times

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REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP

Why the bottom-up approach to eradicating poverty might not work

Big picture reforms will eradicate poverty, not small tweaks to programmes that botique RCTs provide.

View: India's focus should shift to negotiating a better deal to gain entry into RCEP

The point is to negotiate efficiently, and gain more th...

RCEP Agreement explained: Why India chose to walk away

Sakshi Prashar from ET Online explains how concerns like trade deficit and risk to dom...

ET Prime Distribution
  • Secretary (East), MEA, Vijay Thakur Singh said: “In the given circumstances, we believe not joining the agreement is the right decision. This reflects both our assessment of current global situation and of the fairness and balance of the agreement.”

    China is keen to include India in RCEP for its huge market opportunities and since India decided against joining at Bangkok, has been pushing for favourable climate for Delhi to join block. The issue could be on the agenda when the two leaders meet in Brasilia days after the RCEP summit in Bangkok.

    "Congratulate PM @narendramodi for his bold and courageous decision to not join RCEP, since it was against our economic interests and national priorities. Modi hai to mumkin hai!," Piyush Goyal said in a series of tweets. He further added that the prime minister has shown his concern for farmers, dairy sector, MSMEs and domestic manufacturing.

    China is keen to include India in RCEP for its huge market opportunities, and since India decided against joining at Bangkok, it has been pushing for favourable climate for New Delhi to join the block. The issue could be on the agenda when the two leaders meet in Brasilia days after the RCEP summit in Bangkok.

    “India has significant outstanding issues, which remain unresolved. All RCEP Participating Countries will work together to resolve these outstanding issues in a mutually satisfactory way. India’s final decision will depend on satisfactory resolution of these issues,” the grouping said.

    India has decided not to sign the Regional Comprehensive Economic Partnership due to differences over tariffs, its trade deficit with other ...

    Morrison and Trade Minister Simon Birmingham are in Bangkok to discuss the RCEP during the ASEAN summit.

    A Chinese state-run English daily said, “the countries involved in the Regional Comprehensive Economic Partnership shouldn’t lose the chance to include India."

    PM Narendra Modi, who is visiting Thailand from November 2-4, will participate in various ASEAN related Summits including the ASEAN-India Summit, East Asia Summit and a meeting on RCEP negotiations. A joint statement is expected to be released after the leaders’ scheduled summit on Monday. India has said it wants a “win-win outcome” from the pact.

    In an interview to Bangkok Post newspaper, PM said that addressing India’s concerns over “unsustainable trade deficits” was important and that opening the vast Indian market must be matched by openings in some areas where Indian businesses can also benefit. The prime minister will also attend the 16th ASEAN-India Summit and the 14th East Asia Summit.

    India’s experience of negotiating for removing barriers to trade in services in Indo-Asean trade following the FTA in merchandise products is instructive. The sluggish pace of those negotiations has forced India to seek access for services to key Asean markets through bilateral agreements.

    Rather than play the RCEP decision as a bold move and an act of great leadership — ‘Modi hai to mumkin hai’ (Modi makes it possible), said commerce and industries minister Piyush Goyal — it would be wiser to use it as an opportunity to hold a mirror to the nation and unveil a bold strategy of economic reconstruction.

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