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Commerce minister Piyush Goyal said the govt is going to review the free trade agreements between India and ASEAN countries signed by previous govts to address trade imbalances.
Announcement made at ASEAN Economic Integration Forum in Bangkok. India decided against joining Regional Comprehensive Economic Partnership nearly a month ago.
India opted out of Regional Comprehensive Economic Partnership over fears that its industry would be deluged with imports from other Asian markets.
India’s decision is a disappointing window into how much has changed in New Delhi since it became one of the initial movers of the RCEP process.
India already has a trade deficit with 11 RCEP countries. Potential losses from foreign goods, who would find more space in Indian market, likely led to rejection.
As the 27th round of talks begins in Beijing today, a look at India's concerns that make it sceptical on Regional Comprehensive Economic Partnership.
ASEAN leaders to discuss ways of reducing economic uncertainty amid shadow of US-China trade war.
Indian foreign policy is far from being realist and has failed to devise methods to secure strategic alliances with smaller regional powers.
President Ram Nath Kovind is on a visit to Vietnam, where the two countries reaffirmed the importance of freedom of navigation & unimpeded economic activities in the South China Sea.
Many had written off the idea of building an Asia-Pacific coalition between Australia, India, Japan and the U.S. - a group informally known as the Quad.
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