Japan has still not given up hope that India might reconsider joining the Regional Comprehensive Economic Partnership (RCEP) that it quit in 2019, a senior Japanese official said, indicating that India-Japan collaborations in other countries may be impacted if India continues to stay out. In particular, the official said that the RCEP “Rules of Origin” clause could also make it more difficult for products that have an Indian component to be sold easily among the 15-member grouping countries in the future.
“RCEP will benefit the Indian economy with a better supply chain, especially with ASEAN countries,” Japan’s Cabinet Secretary for Public Affairs Noriyuki Shikata said in an interaction with journalists during the visit of Japanese Prime Minister Fumio Kishida.
“India will be treated exceptionally as a founder member and if India is willing to negotiate its re-entry to RCEP, Japan would be happy to take a lead on that,” Mr. Shikata said, acknowledging, however, that the Modi government has not shown any interest in the process.
