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India did not join the Regional Comprehensive Economic Partnership (RCEP) due to strategic considerations, said Finance Secretary TV Somanathan, pointing at the border stand-off with China, a key member of the trading bloc. Besides, some free trade pacts India has signed have had large trade diversions and little benefit as partner countries resorted to non-tariff barriers, he said “I am not aware of too many countries which have signed FTAs with countries with whom they have live armed conflicts, the finance secretary said. India decided against joining RCEP in 2019, which includes China and the Association of Southeast Asian Nations (Asean). He was speaking at a panel discussion organised by economic think-tank National Council of Applied Economic Research (NCAER) in his personal capacity.

India policy forumAssociation of southeast asian nations aseanRegional comprehensive economic partnershipNational council of applied economic researchFinance secretarySoutheast asian nationsNational councilApplied economic researchஇந்தியா பாலிஸீ மன்றம்சங்கம் ஆஃப் தென்கிழக்கு ஆசிய நாடுகள் யாசீன்பிராந்திய விரிவான பொருளாதார கூட்டுதேசிய சபை ஆஃப் பயன்படுத்தப்பட்டது பொருளாதார ஆராய்ச்சிநிதி செயலாளர்தென்கிழக்கு ஆசிய நாடுகள்தேசிய சபைபயன்படுத்தப்பட்டது பொருளாதார ஆராய்ச்சி