BJP working President JP Nadda has lauded India’s decision of not joining the RCEP (Regional Comprehensive Economic Partnership) which includes China, Myanmar, Indonesia, Philippines and other south-east Asian countries.JP Nadda said the decision has undone the damage started by the Congress-led UPA Government.
"He(PM Narendra Modi) has undone the damage started by Congress-led UPA, which first explored an FTA (Free trade agreement) with China in 2007 and then joined the RCEP negotiations with fifteen countries including China in 2011-12," JP Nadda said. "Congress had hurriedly finalised very weak FTAs with ASEAN and South Korea in 2010 and Malaysia and Japan in 2011 opening Indian markets to imports with very little benefits in return," Nadda further added.
The BJP leader said there were many trade-related issues with the RCEP that have remained unsolved and hence India chose to walk out of it. "The Indian negotiators did not accept a bad deal on any issue and ensured that the concerns of India, particularly over the trade deficit and better market opportunities for Indian goods were put forth very strongly. Since several issues remained unresolved until today, Modi decided India will not join RCEP," he said.
JP Nadda also said that Prime Minister Narendra Modi has safeguarded the rights of the poor by not entering the agreement. "Prime Minister Narendra Modi has upheld Mahatma Gandhi's principles and not accepted a deal which did not safeguard the interests of the poor. He is recognized the world over as a 'tough negotiator' and he has once again demonstrated his resolve to protect the interest of the people of India at all times," Nadda added.
On November 5, India decided it won't be a part of the RCEP. Prime Minister Modi said the agreement does not 'reflect the guiding spirit and the agreed principles of RCEP. Commerce Minister Piyush Goyal also hailed the decision to not be a part of the RCEP and said the decision will help boost 'Make in India'. India runs a large trade deficit with RCEP countries and was looking for specific protection for its industry and farmers from a surge in imports, especially from China.
(With ANI inputs)