India: India wants win-win outcome in RCEP: PM Narendra Modi

  • Prime Minister Narendra Modi, who arrived in Bangkok On 2 Nov 19 for the Regional Comprehensive Economic Partnership (RCEP) meet, said the pact should be mutually beneficial for all parties.
  • In an interview to Bangkok Post newspaper, he said addressing India’s concerns over “unsustainable trade deficits” was important and that opening the vast Indian market must be matched by openings in some areas where Indian businesses can also benefit.
  • “We have put forward reasonable proposals in a clear manner and are engaged in negotiations with sincerity. We would like to see commensurate levels of ambition on services from many of our partners, even as we are ready to address their sensitivities.”
  • Multiple diplomatic sources have told PTI that except India, all 15 RCEP member countries were on board in finalising the deal when leaders of the grouping hold a summit meeting on 4 Nov 19 in Nonthaburi, Bangkok.
  • The PM said India would like a win-win outcome and addressing the country’s concerns on unsustainable trade deficits was important. “We recognise the high ambitions of our partners on goods. We too would like a win-win outcome. We believe that for this, addressing our concerns over unsustainable trade deficits is important.”
  • “Overall, we are clear that a mutually beneficial RCEP, in which all sides gain reasonably, is in interests of India and of all partners in the negotiation,” he said.

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