Remaining outside RCEP failed to curb China dependence, says DBS Bank economist

India’s decision to stay out of the Regional Comprehensive Economic Partnership (RCEP) may have cost it access to the world’s most critical supply chains without meaningfully reducing dependence on Chinese imports, according to Taimur Baig, Chief Economist and Managing Director at DBS Bank. Baig told TNIE that fears of Chinese dumping likely influenced India’s decision to opt out of the Asia-Pacific trade bloc, but argued that the strategy has not delivered the intended outcome. “Remaining outside RCEP has not reduced India’s dependency on imports from China in a meaningful manner,” Baig said, adding that India lost out on export opportunities…