Modi saved Indian economy from RCEP: Skoch Group


New Delhi, Nov 5 (IANS): Socio-economic think tank Skoch Group on Tuesday hailed Prime Minister Narendra Modi's decision to opt out of the RCEP, or the Regional Comprehensive Economic Partnership, keeping India's interests in view.

"RCEP would have been a bigger blunder than signing the World Trade Agreement and would have run completely contrary to Modi ji's vision of Make in India as well as making India a $10 trillion Economy by 2030. I am truly thankful to Modi ji for averting this disaster," Skoch Group Chairman Sameer Kochhar said in a statement.

The SKOCH Group had voiced its concerns on the agreement at a recent meeting with the BJP. The Swadeshi Jagran Manch led by Ashwani Mahajan had strongly opposed the agreement for its adverse impact on farmers, particularly on the dairy sector.

"Our concerns were related to a raw deal on services as well as high end value capture in all intellectual property related areas like artificial intelligence, pharmaceuticals etc. We were also deeply concerned about clauses like Rachet that would have impinged on our sovereignty," added Kochhar.

On Monday evening, India announced that it would pull out of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement (FTA) negotiations. India's core issues remained unresolved during the negotiations, which led the government to opt out.

"Neither the talisman of Gandhiji nor my own conscience permits me to join RCEP," said Prime Minister Narendra Modi in Bangkok on Monday as India stormed out of the free trade agreement negotiations that began seven years ago.

  

Comment on this article

  • William, Mangalore

    Tue, Nov 5 2019

    Fallen to ditch, still advocating, wanted to develop the ditch! Pre 2014 India was third largest economy in the world (to confirm search Google), now recently international Bank has declared India is eight largest economy in the world. TO WHOM MAKING FOOLS CONTINOUSLY?

    DisAgree [4] Agree [7] Reply Report Abuse

  • Rolf, Dubai

    Tue, Nov 5 2019

    popini dumbu gotighigea.
    Now Bakath will say Modi saved India.
    ullubanaving.

    DisAgree [3] Agree [6] Reply Report Abuse

  • Ram Shetty, Mumbai/Udupi

    Tue, Nov 5 2019

    "RCEP would have been a bigger blunder than signing the World Trade Agreement and would have run completely contrary to Modi ji's vision of Make in India as well as making India a $10 trillion Economy by 2030. I am truly thankful to Modi ji for averting this disaster," Skoch Group Chairman Sameer Kochhar said in a statement.
    Mr Skoch India's Economy is already in blunder it is a disaster, why the hell you are praising Modi for ? He is just enjoying is outing with already bankrupted Air India. Beside that he is running away from bad air of Delhi.

    DisAgree [6] Agree [13] Reply Report Abuse


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