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Indian industry concerned on RCEP impact: CIM

The Union Ministry of Commerce & Industry Shri Piyush Goyal stated that “market access issues with China for Indian goods have been particularly problematic. Indian Industry is not convinced that RCEP will create a win-win situation for all by ensuring balanced outcomes in across the key pillars, particularly goods and services”.He added that there are also apprehensions and pessimism in the Indian industry about the impact of preceding free-trade agreements. India has given way more in goods than it has received & the commitments in services sector have not materialised.

The minister also said that there has been some progress in India’s negotiations with RCEP. Almost 9 out of 16 chapters have been concluded as a result of these discussions.