Home / Knowledge / News / Textiles / RCEP talks stay inconclusive; some negotiators blame India

RCEP talks stay inconclusive; some negotiators blame India

14
Oct '19
Pic: Shutterstock
Pic: Shutterstock
India's insistence on a safety valve under the Regional Comprehensive Economic Partnership (RCEP) to cover at least half of Chinese imports reportedly resulted in an impasse at the RCEP ministerial meeting in Bangkok last week. The talks remained inconclusive and no joint statement will be issued. A few other nations blamed New Delhi for holding up the deal.

Indian commerce and industry minister Piyush Goyal also demanded that India's concerns on e-commerce, investment, taxation, micro, small and medium enterprises (MSMEs) and policies framed by local bodies also need to be reworked before it could sign the deal, triggering complaints by negotiators from other countries, which have been pushing for early conclusion of talks, a leading Indian English-language daily reported.

“Participated in deliberations to promote trade & investment to achieve mutual economic growth, while safeguarding the interest of our domestic industry and farmers,” Goyal tweeted after the meeting.

India’s core concern is over a possible surge in Chinese imports once the deal is signed as it has indicated that it can allow up to 80 per cent of goods to enter the country at zero duty. Indian negotiators have now demanded that the automatic safeguard mechanism, which will result in higher duties in case of a sharp jump in imports, should cover more goods instead of 60-65 proposed at the moment.

Similarly, it has also demanded that there should be more protection for re-routing of goods via a third country.

Dozens of industries, from steel and pharmaceuticals to textiles, have expressed fears of dumping by China, while the dairy industry apprehends subsidised dairy products from New Zealand would flood the Indian market.

Goyal also held a series of bilateral meetings in Bangkok with ministers of countries like Japan, China, Singapore, Malaysia, Australia and New Zealand.

Meanwhile, Chinese President Xi Jinping's reported assurance to Prime Minister Narendra Modi during the second informal summit held on October 11-12 at Mamallapuram that India's concerns would be taken into account implies the two sides may have a separate protocol under RCEP for a balanced trade.

India is willing to join hands with China to push for an RCEP agreement at an early date, and boost connectivity and anti-terror cooperation, an official Chinese news agency quoted Modi as saying.

Fibre2Fashion News Desk (DS)


Interviews View All

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Sanjay Desai & Ashish Mulani, True Colors

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Matthias Eilert,

Matthias Eilert

Germany-based Forbo Movement Systems division is a global leader in...

Valter De Carli,

Valter De Carli

Savio Macchine Tessili is at the head of a group that holds a know-how of...

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search