PM Modi averted RCEP ‘tragedy’, Piyush Goyal explains why India stayed out of the deal

Why did India walk away from the Regional Comprehensive Economic Partnership (RCEP) in 2019? Commerce Minister Piyush Goyal recalls the negotiations and explains why Prime Minister Narendra Modi decided against joining the mega trade deal. Goyal said RCEP could have exposed Indian industries to Chinese goods without adequate tariff protection. The proposed pact involved China, Japan, South Korea, Australia, New Zealand and the 10 ASEAN nations. He says he reviewed government files after taking charge as Commerce Minister in June 2019 and repeatedly argued against joining the agreement. Piyush Goyal credits PM Modi’s decision on November 4, 2019, in Bangkok with protecting India’s manufacturing interests. Watch his account of the negotiations and why India stayed out of RCEP.