New Delhi, Oct 19 (KNN) The Micro Small and Medium Enterprises (MSMEs) of Punjab decided to burn the effigies of the Central Government to protest against the Regional Comprehensive Economic Partnership (RCEP) to be signed by India with 15 countries.

If RCEP is cleared then the markets of India will be flooded by Chinese products as the agreement allows supply of custom duty free items, which covers more than 80% of items produced in India and other countries.

Among 16 countries India is having trade deficit with 12 Countries and the biggest with china of around 4 Lakh crores. China is also dumping the goods through SAFTA & ASEAN countries to India to evade the higher rate of duties.

If this agreement implemented, India the biggest consumer market of the world will be open to all the RCEP countries. The industry of India will be in deep trouble due to this agreement. Already the Industry is on the verge of closure due to huge recession in India.

At this point of time signing RCEP agreement may prove to be a last nail in the coffin of industry.

To raise the voice against this, many trade and industry organizations of Punjab will jointly protest against RCEP on October 19, at New Cycle Market, Miller Ganj, Ludhiana.

The RCEP is a group of 16 countries including India, China, Japan, Australia, South Korea, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Thailand and Vietnam. 

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