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In 2019, India decided not to join High and low pressure catalytic Pyridines
the RCEP bloc due to concerns about hydrogenations (max 120 bars, 300°C) Piperidines
trade imbalances and its impact on the comment by Niti Aayog CEO BVR China’s mass manufacturing,” it said, Hydrogenations in acidic medium Piperidones
domestic industries. The RCEP pact, a Subrahmanyam that India should be a adding that RCEP membership is seen Pressure reactions Piperidinols
kind of comprehensive free trade agree- part of the RCEP and Comprehensive by a few economists as a pathway to Chemical reductions Piperidinamines
ment (FTA), was negotiated among the and Progressive Agreement for Trans- attract more Foreign Direct Investment Grignard reactions (in large scale) Quinuclidines
10 ASEAN member states – Brunei, Pacific Partnership. (FDI) to India, but the link between Brominations Chloroalkylamines
Cambodia, Indonesia, Laos, Malaysia, FTAs and FDI growth is mixed. Chlorinations with chlorinating agents Cyclopentyl derivatives
Cyclohexyl derivatives
Myanmar, the Philippines, Singapore, On the argument that RCEP can Claisen-Dieckman reactions Acyl chlorides
BOC, CBZ protections
Thailand, and Vietnam – and their six grant India access to a massive trade The challenges RCEP poses for BOC, CBZ protections Brominated compounds...
free trade partners – China, India, South area, the report said India already has India’s domestic industries, particularly
Korea, Japan, New Zealand, and Aus- FTAs with 13 of the 15 RCEP coun- MSMEs and agriculture, suggest a cau-
tralia. The countries account for about tries, excluding only New Zealand and tious approach, it added. Another signi- Contact us today to know more : +91 86550 18341
30 percent of the global gross domes- China. RCEP would likely add little ficant concern is India’s rising trade Email: vikky@chemistacks.com | www.chemistacks.com | Phone: +91 97029 50111
tic product (GDP) and trade and nearly new export opportunity for India as its deficits with ASEAN, South Korea, Registered office: B5, Matru Ashish, SV Road, Kandivali (West), Mumbai - 400067
half of the world’s population. exports to China are not growing since and Japan, that is yet another reason for CIN: U46909MH2023PTC412076
the last five years, it said. “Another staying out of RCEP.
“Any benefits from RCEP would argument suggests RCEP membership
likely be minimal and incremental, would help India integrate into regional Post-FTAs, the report said, India’s Available from Manufacturer READY STOCK AVAILABLE
especially considering China’s opaque value chains. But despite having zero- trade deficits with ASEAN, South
trade practices. India cannot have a tariff trade of most industrial goods Korea, and Japan increased more than its
bilateral FTA with China due to its large with ASEAN, Japan, and South Korea global trade deficit. From 2007-09 to POPULAR
trade deficit. However, joining RCEP for over a decade, India has not become 2020-22, the trade deficit grew 302.9
would be even more problematic,” said a significant value chain player,” it said. percent with ASEAN, 164.1 percent TRADERS
the report prepared by GTRI Founder with South Korea, and 138.2 percent
Ajay Srivastava and trade expert It also said the possibility of expand- with Japan, compared to an 81.2 per- All kinds of M.S. & G.I. Drums
Abhijit Das. It added that in a bilateral ing markets for Indian MSMEs is also cent increase globally, the GTRI said.
free trade pact with China, India could frequently cited, but in reality, domes- “This trend continued in 2023. Without Capacity from 10 Ltrs to 235 Ltrs. Suppliers of
delay tariff reductions, but under RCEP, tic MSMEs struggle to compete with any major tariff concessions to China, ALL KINDS OF HDPE & MS
Chinese goods can enter India easily large-scale Chinese manufacturers. India’s deficit with China exceeded
through other RCEP countries with “Introducing tariff-free Chinese goods $85-bn in FY24. If India had joined Office: 68, Erskine Road, Jariwala Building, Null Bazar, Mumbai - 400003. RECONDITIONED DRUMS
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marks come in the backdrop of recent unlikely to withstand competition from it added. Website: www.supremedrums.in Mobile: 09892371773 w Email: mustafa@supremedrums.in
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20/19
150 Chemical Weekly December 3, 2024

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