- Dec 29, 2010
My personal view is: I respect India not join RCEP this time and this is the way India reservers its domestic market to its own companies.Its not just RCEP, FTA deals in general are not India's game.
Other than US,UK and UAE, India has a trade deficit with each of its trading partner.
I'd thought it would be easy for India to replace China in a few manufacturing sectors as the low cost exporter, but it seems India's having a bad time banking on its labor pool.
If someone need to blame, i think should be Manmohan Singh.
After 2008 financial crisis, India had golden oppotunity to become a manufcturer hub, Manmohan Singh should done someting on legal and governmental reform...
But at that time, i remembered that Indian members on the forums were drunk of "India is world's office, and China is world's Sweatshop" ... it's little late to realize the manufacture is the key for nations's modernization not some call centers or forgein company's R&D department.
If Modi would held the power in 2008, the situation must be very different.