Abstract

The new wave of nationalism has led to an increase in trade barriers, trade wars and break away from Mega-regionals of various economic powers in the world. In-line with the United States in TPP and the United Kingdom in the European Union, India has also withdrawn from RCEP, inter alia, to protect its domestic market from flooding of imports with no gains in services. With the on-going global recession, this protectionist behaviour of countries has intensified the global slow growth. The paper dwells into the reasons for India’s backout and concludes that it would lose its export potential and an opportunity to be part of value chains in the region. Concomitantly, other members of the grouping would also lose their export potential in the Indian market. Therefore, RCEP members should re-evaluate the grouping without India and India should consider a middle way approach to be a part of this Mega-regional.

摘要

新一波的民族主义导致贸易壁垒增加、贸易战和世界各经济大国的大区域脱离。与美国的 TPP 和英国的欧盟一样，印度也退出了 RCEP，除其他外，以保护其国内市场免受进口泛滥而没有服务收益的影响。随着全球经济衰退的持续，各国的这种保护主义行为加剧了全球增长缓慢。该论文深入探讨了印度退出的原因，并得出结论认为它将失去出口潜力和成为该地区价值链一部分的机会。与此同时，该集团的其他成员也将失去在印度市场的出口潜力。所以，