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4) India should not allow the RCEP trade deal to fail. Do you agree. Comment.(250 words)

Topic:  Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests Effect of policies and politics of developed and developing countries on India’s interests

4) India should not allow the RCEP trade deal to fail. Do you agree. Comment.(250 words)

Economictimes

Directive word

Comment- here we have to express our knowledge and understanding of the issue and form an overall opinion thereupon.  

Key demand of the question.

The question wants us to express our knowledge and understanding of the RCEP agreement and express our opinion as to why/ why not India must allow the RCEP trade deal to fail. Whatever our opinion we have to substantiate it with valid arguments and facts.

Structure of the answer

Introduction- write a few introductory lines about the RCEP agreement highlighting its significance and importance.

Body-

Discuss why India should not let the agreement fail. E.g

  • The Regional Comprehensive Economic Partnership, or RCEP, is not a “competitor” to the Trans-Pacific Partnership.
  • But, unlike the former, the RCEP is a more traditional sort of trade deal, in which tariff cuts on tradeable goods — rather than high standards for labor, environmental and intellectual-property protections — are at the center of the discussion.
  • The truth is that those officials have it backwards. India has largely failed to develop a manufacturing sector because its factories aren’t competitive and aren’t plugged into global supply chains. Over the past few years, tariffs have started rising as well — often in an ad hoc and arbitrary manner — which means that becoming part of spread-out value chains will be even tougher.
  • Given the difficulty of getting Indian negotiators to the table for bilateral trade deals, the RCEP remains the best chance to incorporate India into a genuinely open trading bloc etc.

Conclusion- based on your discussion, form a fair and a balanced conclusion on the given issue.

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