India withdraws from RCEP due to concerns over China's market dominance and trade imbalance.

India will not join the Regional Comprehensive Economic Partnership (RCEP), citing concerns that the trade deal favors China and does not align with the interests of its small and medium industries. Commerce Minister Piyush Goyal accused China of exploiting WTO policies to flood markets with low-quality goods. Instead, India is focusing on developing its semiconductor industry, aiming to attract foreign investment and establish itself as a major chip hub.

September 23, 2024
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