CAIT hails PM Modi's decision not to join China-backed RCEP

New Delhi, Nov 6 (KNN) The Confederation of All India Traders (CAIT) has lauded Prime Minister Narendra Modi for upholding the interests of domestic trade and commerce by taking a decision not to join the "China-backed Regional Comprehensive Economic Partnership (RCEP)".

Praveen Khandelwal, Secretary-General, CAIT had recently met the Commerce Minister Piyush Goyal and highlighted that Indian Trade, Industry and Service sector shall be highly compromised and the entire business environment of India will be vitiated in the event of India being a part of a treaty such as RCEP.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal lauded the statement of Prime Minister at the Summit that "I measure the RCEP Agreement with respect to the interests of all Indians, I do not get a positive answer. Therefore, neither the Talisman of Gandhiji nor my own conscience permits me to join RCEP." 

While praising the Prime Minister Modi, the CAIT further said, ''It is for the first time that under RCEP negotiations that India led by you has demonstrated firm & strong leadership at the Summit which has sent a substantial and unequivocal indication to RCEP countries and the world as well that India will not sign any unequal deal under RCEP or otherwise without addressing core concerns of India and no force on the earth can pressurise India for enter into any agreement which is unequal. The entire business community stands with you in solidarity and will surely work more for substantial and exponential growth of domestic trade & commerce in the Country.''

Both Bhartia and Khandelwal urge upon Prime Minister to initiate a new era of dialogue with stakeholders on other Free Trade Agreements (FTAs) so that issues and concerns of the stakeholders may be well addressed. We shall also request you to consider certain support policies and technology assistance to domestic small industries and retail trade in order to make the sectors more competitive and capable to meet global challenges and to obtain their optimum utilisation of its capabilities and capacity.

"We expect that a firm stand like what the Government has taken in RCEP should also be taken for Indian e commerce market and no one should be allowed to violate the policy and law of the land since e commerce has a bright future in India. We also urge for support policies from the Government to digitalise 7 crore small businesses of the Country to convert your vision of "Digital India" in a time bound manner."-said both trade leaders.

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