India should take the RCEP route to trade integration
It is a dynamic way to break into the booming markets of East and South-east Asia, though there will be exorbitant toll fees to be paid along the way.
INDIA must quickly negotiate the sticking points to joining the proposed Regional Comprehensive Economic Partnership (RCEP) grouping, which is further prying open the relatively protected Indian market. New Delhi must not stay out of - or get left behind - the US$2.8 trillion trading area to be finalised by the end of this year.
Yet, it is indeed a cause for worry that India ran trade deficits with as many as 11 of 15 RCEP member countries totalling US$107.28 billion last year, according to data from the State Bank of India.
RCEP is a proposed free-trade agreement (FTA) among the 10 member states of Asean and its six FTA partners.
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