Huge pressure on trade sops may derail Suresh Prabhu's first RCEP talks

Richer nations at Manila summit want India's concessions in domestic space to be extended to them

Excessive pressure by negotiating nations on securing future trade concessions provided by India in the domestic space may derail new Commerce Minister Suresh Prabhu's first trade engagement at the Regional Comprehensive Economic Partnership (RCEP) ministerial in Philipines.

Currently in Manila, Prabhu will have to negotiate hard as senior sources in the know said the issue is likely to be brought up again, similar to the past few rounds of negotiations. While India had communicated its intention to allow certain sectoral concessions in the services and investments segments, richer nations have continued pushing for similar concessions in goods trade as well,