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RCEP: If India wants to be a developed country, then does it have a choice?

If we believe it's time for India to transform itself into to a developed country, with the aspiration of a $ 5 trillion economy, then we ought to get over this protectionist mindset

Mukesh Butani & Tarun Jain

International diplomacy is not a zero-sum game. The principle holds equally good for geo-economics. It is now acknowledged by national finance ministers and central bank heads that ‘trade tensions’ are holding back growth.  In the midst of dramatic deceleration, Indian policy makers find themselves in a dilemma to address impact of global slowdown, internal growth challenges, having used most of the monetary and fiscal fire power to stoke demand. The attention is now on India’s approach towards FTA’s in general and, RCEP in particular.  Can India set ...