GTRI Criticizes World Bank's Call for India to Join RCEP

GTRI has criticized the World Bank's suggestion for India to reconsider joining the RCEP, labeling it as based on flawed assumptions and outdated projections. GTRI maintains that India's decision to opt-out remains valid due to rising trade deficits among RCEP members and an over-reliance on China-centric supply chains.

On Wednesday, the Global Trade Research Initiative (GTRI) criticized the World Bank's recommendation for India to reconsider joining the Regional Comprehensive Economic Partnership (RCEP), describing the advice as based on flawed assumptions and outdated projections.

GTRI emphasized that policy decisions for developing countries like India need to be firmly grounded in real-world data and a deep understanding of long-term implications. The organization pointed specifically to increasing trade deficits among RCEP members and the heavy reliance on China-centric supply chains as reasons for a cautious, thoroughly researched approach.

Ajay Srivastava, GTRI Founder, highlighted that the World Bank should prioritize comprehensive, data-driven analyses that take into account the specific challenges and economic conditions of developing nations. He affirmed that India's decision to exit RCEP in 2019 was strategically prudent, citing ongoing concerns that have been intensified by subsequent developments.

(With inputs from agencies.)