RCEP (Regional Comprehensive Economic Partnership), the proposed free trade agreement (FTA) between the 10 member states of the Association of Southeast Asian Nations (Asean) and its six FTA partners including China, India, South Korea, Japan, New Zealand and Australia is going to be a severe jolt to Indian economy which is already in recession. India is going to decide whether to join the deal when Prime Minister Narendra Modi join other RCEP heads of states in Bangkok on 4 November where conclusion of negotiations for the deal is likely to be announced.
The deal is already facing increasing resistance from domestic industry, farmer groups, diary workers, civil society organizations and opposition political parties in our country who point out that China, Australia, Japan and South Korea will dump cheaper goods into the huge Indian market using the RCEP deal, further worsening the present serious slow down which has forced many major producers including automobiles to cut down production, tens of thousands of medium and small units to close, intensified agrarian crisis and thrown out tens of millions of workers from their jobs.
In this situation, we oppose any decision on the part of Modi government to sign this deal. We appeal to all trade unio centers, peasant organizations and unemployed youth and other oppressed sections to come out and oppose this deal.
K N Ramachandran
CPI (ML) Redstar