RCEP · FTA guide, rules of origin & tariff schedule

RCEP.

Regional Comprehensive Economic Partnership

RCEP — In Force ✅ (India opted out). Goods, services, investment — 15-nation mega-regional FTA. India opted out.. India-relevant trade: USD USD 5.4T (intra-RCEP).

ASEAN 10 + China + Japan + South Korea + Australia + New ZealandParties

In Force ✅ (India opted out)Status

January 2022In force

November 2020Signed

Coverage

What this agreement covers.

Goods, services, investment — 15-nation mega-regional FTA. India opted out.

Key benefits

Why this agreement matters.

✓ World's largest FTA by GDP and trade volume at time of signing
✓ India opted out citing China import surge concerns and trade deficit
✓ RCEP members include India's key competitors in EU market (Vietnam, Indonesia, Malaysia)
✓ India's non-membership creates competitive disadvantage vs RCEP members

India position

How this FTA relates to India.

India opted out in 2019 — this page analyses India's non-membership

Aggregate trade volume among parties: USD 5.4T (intra-RCEP)

Risk framework

FTA compliance risks.

Risk	Assessment	Mitigation
India outside RCEP — faces MFN tariffs in RCEP markets vs 0% for RCEP members	High — Indian textiles, pharma, agro face tariff disadvantage vs RCEP members in RCEP markets	Pursue bilateral FTAs with key RCEP members (Japan CEPA done, Australia ECTA done, Korea CEPA done, ASEAN AIFTA done, China and New Zealand remaining)
RCEP creates China-centred supply chain excluding India	High — structural competitive pressure	India's domestic market size and PLI incentives are primary counterweight to RCEP supply chain advantage

Beneficiary verticals

Which sectors benefit.

Textiles Pharma Agro Engineering Electronics Technology

Frequently asked

FAQ · RCEP.

Why did India opt out of RCEP?

India withdrew from RCEP negotiations in November 2019, citing concerns about: (1) potential Chinese goods surge post-0% tariff, (2) inadequate service sector commitments, (3) data localisation and e-commerce provisions, (4) asymmetric trade benefits. India remains open to re-joining.

What would India gain if it joined RCEP?

Preferential access to 15 of Asia's largest economies including China, Japan, Australia, South Korea, ASEAN. Estimated 15–20% increase in India's trade competitiveness in RCEP markets. Cost: accelerated competition from Chinese goods in Indian market.

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RCEP.

What this agreement covers.

Why this agreement matters.

How this FTA relates to India.

FTA compliance risks.

Which sectors benefit.

FAQ · RCEP.

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