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Current Affairs

India stays away from RCEP partnership this year.

Prime minister Narendra Modi has taken a bold decision to stay away from Regional Comprehensive Economic Partnership (RCEP) to favor India's small businesses, farmers, dairy, data security, and the manufacturing sector. Prime ministers bold the decision paves the way for 15 other countries to sign the China-backed regional trade deal for next year.

About RCEP

RCEP is a proposed free trade agreement among ten member states of the association of South East Asian Nations (ASEAN). The trade agreement countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and FTA's partner nations are China, Japan, South, Korea, Australia, and New Zealand. After the India's withdrawal from RCEP in November 2019, China said that India is welcome to join the RCEP, whenever it's ready.

India stays away from RCEP partnership this year.