World Bank's suggestion to join RCEP based on flawed projections: GTRI

Think tank GTRI on Wednesday said that the World Bank's suggestion for India to reconsider joining RCEP (Regional Comprehensive Economic Partnership) is based on flawed assumptions and outdated projections.

For developing countries like India, policy decisions must be rooted in real-world data and a thorough understanding of the long-term implications, it said.

The rising trade deficits among RCEP members and the over-reliance on China-centric supply chains underscore the importance of a cautious, well-researched approach, the Global Trade Research Initiative (GTRI) said.

India pulled out of the RCEP in 2019 after entering negotiations in 2013. The RCEP bloc comprises 10 Asean group members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six FTA partners - China, Japan, South Korea, Australia and New Zealand.

It added that the World Bank should focus on thorough, data-based analysis that considers the specific ...