Govt panel favours RCEP membership

A high-level advisory group appointed by the government and headed by Surjit Bhalla, a former member of the Prime Minister’s Economic Advisory Council, has staunchly supported the idea of India joining the proposed Regional Comprehensive Economic Partnership (RCEP) agreement. The group, which was formed last September, is of the opinion that exclusion from the pact will keep India out from a large regional market.

“A hypothetical RCEP like free trade area, when the US and China are fighting a bilateral tariff war, will turn out to be beneficial for all member countries, particularly for India,” the group said.