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Regional Comprehensive Economic Partnership: Boosting trade or extending monopolies for big pharma?
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A letter from Kerala's Agriculture minister V.S. Sunil Kumar to the Central government highlights apprehensions about the Regional Comprehensive Economic Partnership (RCEP), a trade deal that will bind India to Asia Pacific's manufacturing and agricultural powerhouses. No one, least of all the states who bear the actual consequences, has a clue about what is being negotiated, the tariff lines being conceded, the products in the negative list, and what sectors and states will be affected.
Even though the magnitude of impact from trade diversion on India when the TPP is in place can be debated, it is certain that trade and investment diversions hurting the Indian economy is most likely to occur.