Supply Chain: India and Rcep

supply chain: Only by seeking greater market liberalization can India sustain economic momentum and prepare to emerge as a regional power, according to Global Times China. It is time for New Delhi to push forward the RCEP and open India to the outside world as Chinese leaders did decades ago when China joined the WTO. The expected demise of the Trans-Pacific Partnership may not boost the prospect of concluding the RCEP and quarreling among bargaining participants, especially India who is reluctant to open up its markets, may complicate the RCEP's fate, as a recent article by CNBC suggested. The free trade agreement could not only boost India's economic stamina but could also extend the supply chain in Asia and instill new vigor in regional growth. The 16-member free trade pact, which links the Association of Southeast Asian nations with China, Japan, South Korea, Australia, New Zealand and India, would create one of the world's largest trading blocs accounting for 40 percent of world trade with a combined GDP of 23 trillion. Its implications on the regional and world economy remain undoubted. The pact, which covers diverse areas such as goods, services and investment, could extend the regional supply chain and streamline multiple Asian trade agreements if successfully inked. (news.financializer.com). As reported in the news.