Let’s talk about India’s pull out from RCEP (Regional Comprehensive Economic Partnership) in detail. Narendra Modi was so close to sign the RCEP agreement but storms out of it. He had no knowledge of the impact to Indian economy by signing RCEP. His mission was to build relations with 16 RCEP’s nations. But, upon agitation particularly from the Southern part of India he has to pull out at the last minute.

 

If India’s economy grows at a faster pace as it was growing few years back then signing RCEP agreement would’ve been fruitful. However, the gain for India over pulling out from RCEP is for the benefit of Indian economy. India’s economy is under pressure and the world knows about this. In this regard, instead of the govt, consumers at present are taking care of India’s economy. Indian govt should let farming and other sectors, who opposed against signing the RCEP deal should be taken care. And not by the consumers. Here, consumers lost high quality and cheap products easily available in Indian market through signing of RCEP. Now, the concern is Narendra Modi lost RCEP not because he thinks India’s economy is weak but thinks about his own future.

India’s Consumers Take Care Of Indian Economy

 

RCEP is exclusively on a zero import duty and products India will import after signing the deal would’ve been cheaper. So, here the benefit of consumers haven’t been thought upon as Narendra Modi targeted consumers. He wants Indian consumers shouldn’t consume high quality products but adulterated and cheap quality expensive produce of India.

However, Narendra Modi should’ve signed RCEP and let Indians use cheap and good quality products. And help the farming and other sectors in India in a different way. This way is nothing but fund them to manufacture different products with an agreement to RCEP with some restrictions. India’s policy for RCEP should’ve been with restrictions on various products and India should’ve signed the deal by keeping restrictions.

 

India know clearly that there’s mixing in the dairy products produced in India. And these milk products after mixed in the milk with cheap powder to make 20 liters of milk to 50 liters and so on. Thus, consumers are bearing losses of cheaper and higher quality products from foreign countries. Their health values should also be considered as why the consumers are responsible for India’s economy? And why not the govt take care of Indian producers and why not the govt benefit India’s consumers for health and safety?

Khalid M Raza