India is reassessing its 2019 exit from RCEP, the world’s largest trade bloc of 15 countries. Internal talks are underway as US tariffs disrupt global supply chains and China signals a thaw in trade ties.

BulletsIn

• India weighing return to RCEP, left in Nov 2019
• Bloc covers 32.6% of global GDP, 2.35 billion people
• Includes ASEAN, China, Japan, Korea, Australia, New Zealand
• Fresh review triggered by US tariffs up to 50% on India
• China eased export curbs after Jaishankar–Wang Yi meeting
• Govt may relax Chinese FDI rules ahead of SCO Summit
• RIS tasked to assess RCEP costs, benefits
• India seeks written assurances for better market access
• Concerns remain: risk of cheap imports, farmer losses, trade deficit
• Study shows India’s untapped export potential to China at $161 bn