A preliminary mega Asia Pacific trade pact could be announced next week — if India plays along
He explained Indian manufacturers are facing "considerable challenges" this year — automakers, in particular, face a "severe crisis due to slumping vehicle sales." The macroeconomic environment has heightened concerns among Indian manufacturers about the potential negative impact of an RCEP deal on their own domestic market shares, Biswas said.
Those fears have led to the pact being criticized by powerful unions and farmers' groups in India. Local media reports said agricultural groups have announced protests against any move by the government to join RCEP.
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