There is confusion over the agreement of the Free Trade Agreement under the Regional Comprehensive Economic Partnership (RCEP) between 16 countries of Asia, including India, as India has already made it clear that it will join the fair and transparent agreement. India is demanding the protection of domestic industries.
The agreement could not come to a conclusion because India was not willing to reduce or eliminate tariffs on many products due to the threat of cheap imports from China. India’s major concern is cheap imports from China, which may affect the domestic business. Also, imports of cheap milk products from Australia and New Zealand may affect the domestic dairy industry.
However, Prime Minister Narendra Modi will meet the Japanese PM Shinzo Abe, Vietnam’s Nguyen Juan Fuch and Australian PM Scott Morrison today.