ISDS Case Map
India
Despite the country now having backed out of the mega trade deal, its renewed interest on its other trade pacts, several of which have failed to deliver the results expected, has set the tone for its focus in the coming year.
South Korea has secured 16 free trade partners -- 12 countries and four trade blocs -- around the globe since it started pursuing bilateral free trade agreements two decades ago.
India is making efforts to speed up free trade negotiations with the EFTA countries comprising Switzerland, Norway, Iceland and Leichtenstein in parallel with its discussions with the European Union on a similar pact.
The proposed free trade agreement between India and Mauritius is nearing finalisation as both the sides have concluded the negotiations for the pact.
For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
The withdrawal of India from the RCEP as also the changed ground truths call for a recalibration of the FTP which is not only in tune with the changing times, but factor in future uncertainties as well.
Commerce and Industry Minister Piyush Goyal hailed Prime Minister Narendra Modi for India's decision to opt-out of the RCEP noting that it was nothing more than a FTA between India and China.
The Trump administration is setting its sights on another trade agreement with India.
Whereas Japan took the lead to establish the TPP without the United States, Tokyo does not desire a RCEP without India because it would create a China-led trading bloc.
