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Congress calls India's decision to not join RCEP victory for national interest, credits 'forceful opposition'

RCEP trade deal: Congress also said that signing the RCEP would have been catastrophic given the "rampant unemployment, a sinking economy and deep agrarian crisis emanating from utter mismanagement of economy by BJP Government".

twitter-logo BusinessToday.In   New Delhi     Last Updated: November 5, 2019  | 10:01 IST
Congress calls India's decision to not join RCEP victory for national interest, credits 'forceful opposition'

The Congress credited the Opposition parties for India's decision to not join the Regional Comprehensive Economic Partnership (RCEP) on Monday. Congress spokesperson Randeep Surjewala said that the forceful opposition has ensured that the BJP government backs out from bartering the interests of farmers, dairy producers, fishermen and small and medium businessmen.

The spokesperson also called India's decision to not sign the RCEP trade deal a win for all those protecting national interests. "A forceful opposition by Congress and Rahul Gandhi ensures that BJP government backs down from bartering the interests of farmers, dairy producers, fishermen, small and medium businesses at the altar of political expediency. A victory for all fighting for protecting national interests (sic)," he said on Twitter.

The party also said that signing the RCEP would have been catastrophic given the "rampant unemployment, a sinking economy and deep agrarian crisis emanating from utter mismanagement of economy by BJP Government".

"The Modi Government was pushing to sign RCEP without addressing genuine concerns and national interests. India's farmers and MSME's had genuine unaddressed concerns about -- Circumvention of Rules of Origin to dump Chinese goods; Absence of safeguards to prevent against import surges at the cost of domestic industry; No assurance on market access for service and IT industry," he added.

BJP's working president JP Nadda hailed PM Modi's decision on Monday said the country did not bow down to global pressure and give away its economic interests, unlike previous Congress government that had opened the Indian market through weak trade agreements.

India decided not to join the RCEP on Monday as negotiations failed to address India's concerns. The External Affairs Ministry said India decided not to join RCEP because of unresolved issues and believes that under current circumstances, it would not be proper to join the RCEP. The decision was taken considering national interests, the Ministry said.

The RCEP comprises 10 ASEAN nations and six of its FTA (free trade agreement) partners - China, India, Japan, South Korea, India, Australia and New Zealand.

Also read: RCEP trade deal: What's next after 15 nations decide to go ahead without India

Also read: India decides to not join RCEP; 15 other nations to go ahead with trade deal

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