To deliberate hostilities by numerous departments against an Asian trade pact organized by the Beijing citing fears of a flood of Chinese imports, a board of Indian ministers who understand knowledge of the matter, are planning to meet. The group headed by Commerce Minister Suresh Prabhu will meet on 10th August, to converse the concerns that were recognized by the ministries of steel, pharmaceuticals, electronics, heavy industry, agriculture, textiles and chemicals against the Regional Comprehensive Economic Partnership.
Prime Minister of India, Narendra Modi’s administration faces pressure from the members of the nation which includes, China, Japan, Australia, New Zealand and South Korea, to conclude talks by 2019. As the pact does not provide for free movement of skilled workers, India has dragged its feet. This has turned out to be a key concern for New Delhi giving its large pool of tech workers, even as it opens its market to a clutch of nations known for their manufacturing competence.
From a separate 12-nation Trans-Pacific Partnership last year, President Donald Trump withdrew with the U.S. and started a full-blown global trade war. RCEP grouping accounted for 3.5 billion people and $22.5 trillion in the gross domestic product (GDP), is being seen as the champion of free trade. After the meet at the end of August, ministers of the 16 member-nations said that they would meet in November.