India should quit RCEP: SJM

On the day when Prime Minister Narendra Modi was attending the RCEP summit, the RSS-affiliated Swadeshi Jagran Manch (SJM) said the proposed agreement is "not in the interest" of the people of India and the country should quit it.

"We...urge the government and, in particular, Honourable Prime Minister to refrain from making any commitments on RCEP in this ministerial. In fact it is time India takes a bold but clear decision to quit RCEP as it has nothing to give to our country," co-convener of SJM Ashwani Mahajan said in a letter to Modi.

He said the Regional Comprehensive Economic Partnership (RCEP) agreement presents a major threat and not a major opportunity for India.

"SJM believes that the RCEP is not in the interest of the people of India. There is no sector, no constituency, or no region in India that will benefit from RCEP," Mahajan said in the letter.

Earlier today, speaking at the RCEP summit in Singapore, Modi called for an early conclusion of the multi-nation RCEP agreement that should be modern, comprehensive, balanced and mutually beneficial to the people of all countries.

Cautioning the Prime Minister about the impact of signing the agreement, the SJM said given the impending elections in 2019, it will be a disaster for the government to sign or even make commitments giving concessions on specific chapters.

The RCEP, involving 10 ASEAN members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) as well as China, Japan, Australia, India, New Zealand and South Korea, would cover about half the world's population and a third of its GDP.

The RCEP has concluded seven chapters of the total 16.

The negotiations have been on since 2012.