India not to join Asia free trade RCEP deal |
Indian Prime Minister Narendra Modi on Monday announced that India will not join the Regional Comprehensive Economic Partnership. He made the announcement during his speech at the RCEP Summit in Bangkok, which was attended by several world leaders. PM Modi said, the present form of the agreement does not fully reflect the basic spirit and the agreed guiding principles. He said the agreement also did not satisfactorily address India`s outstanding issues and concerns, hence it was not possible for New Delhi to sign it. The Prime Minister said India stands for greater regional integration as well as for more free trade and adherence to a rule-based international order. Later, speaking at a press conference in Bangkok, Secretary (East) in the Ministry of External Affairs, Vijay Thakur Singh said India`s core issues would not be compromised and the latest decision has been taken in the interest of the nation. Ms Thakur said the RCEP agreement with China and ASEAN countries does not reflect its original intent, and the outcome is not balanced. Home Minister Amit Shah hailed the decision saying India`s decision not to sign RCEP agreement reflects Prime Minister Narendra Modi`s strong leadership and unflinching resolve to protect the national interest in all circumstances.
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