Prime Minister Narendra Modi has said that India will not join China-backed mega Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi’s “outstanding issues and concerns”.
Prime Minister Modi made the announcement during his speech at the RCEP Summit in Bangkok, which was attended by several world leaders including Chinese Premier Li Keqiang.
“The present form of the RCEP Agreement does not fully reflect the basic spirit and the agreed guiding principles of the RCEP.
“It also does not address satisfactorily India’s outstanding issues and concerns. In such a situation, it is not possible for India to join RCEP Agreement,” Modi said.
Sources said in report by PTI, that China was forcefully pushing for inking the deal during the RCEP summit in an attempt to counter-balance the impact of its lingering trade war with the US as well as to project the region’s economic might to the West.
Prime Minister Narendra Modi has since returned to India after his three day tour of Thailand.