https://www.channelnewsasia.com/news/commentary/why-india-left-rejected-rcep-trade-asean-china-modi-12071704
The author of the article was very biased in his analysis and I would like to offer the alternative truth about the RCEP discussion by highlighting 2 main points.
First of all, India wanted to be accorded the same developing status as Myanmar and Cambodia in the RCEP accord and enjoy the same privileges as them. However, India is not the same as Myanmar and Cambodia because its population size and GDP are much bigger than theirs. Therefore, many developed countries under RCEP cannot accept India's demand.
Next, India wanted to be exempted from the farm and agricultural rules and regulations. This demand was fervently rejected by New Zealand and Australia because they believe that there must be free trading of farm and agricultural products under RCEP.
In conclusion, it will be hard for India to join RCEP if it just wants to impose its demands on other countries without any reciprocation. India will be missing out on a lot of things by pulling out of RCEP while the other countries under RCEP will flourish.
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