India pulls out of RCEP trade deal

  • Everything seemed to be going well at the 35th ASEAN Summit - after seven years of talks to conclude the Regional Comprehensive Economic Partnership - until India announced its withdrawal from the trade deal.
  • "This reflects both our assessment of the current global situation as well as of the fairness and balance of the agreement," said Vijay Thakur Singh, a diplomat in charge of East Asian relations for India.
  • Moving on... The remaining 15 countries will continue working towards the pact that would cover nearly a third of the world's GDP, while China announced that India is welcome to join the RCEP whenever it's ready.
  • ETFs: INDA, EPI, INDY, SCIF, INDL, PIN, SMIN, IIF, INXX, INCO, SCIN, NFTY, FLIN, IXSE

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