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Letter to BS: India can benefit from free trade agreement in long run

Or is this a pipe dream with severe unintended consequences?

Business Standard 


This refers to “Bargain hard but go for RCEP deal” (October 22). If the authorities let the rupee slide to find its real level, it would be good for everyone all round and also effectively take care of the anxieties arising out of the possible dumping of items under the Regional Comprehensive Economic Partnership that could destabilise local producers. The higher import costs in rupee terms for oil etc could be managed by lowering tariffs on those with, if any, minimal revenue loss to the exchequer. Exports would get more profitable and hence grow faster and for travellers, this could provide a damper too. For those invested in the stock market here, their returns to be worthwhile would need higher prices for stocks providing them buoyancy there too. Or is this a pipe dream with severe unintended consequences?

We would, in the long run, benefit from the and cut down transit time, paperwork etc and improve the ease of doing business — all in one stroke.

Asit Desai, Mumbai

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First Published: Tue, October 22 2019. 20:59 IST