On trade, there is a third way

November 23, 2020 Sunday Guardian Live 0 Comments

The “missing the bus” metaphor made a comeback earlier this week when 15 nations signed the Regional Comprehensive Economic Partnership (RCEP), a mega trade deal, sans India, which opted out of negotiations last year. Indeed, the metaphor is apt for different points in India’s post-Independence economic history. But, not for RCEP. A bus is a means of transport, what matters is the destination. Free trade agreements are a means; the destination is industrialisation, jobs and economic growth. Boarding a bus, which takes you to a destination not of your choice is a folly. The government has chosen wisely. Read More.

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