Explained: Why India has said no to RCEP

India believes that the RCEP trade deal doesn't provide adequate protection against possible surges of imported goods. In particular, India is concerned about cheap Chinese goods flooding the domestic market.

Prime Minister Narendra Modi with New Zealand’s Jacinda Ardern and China’s Li Keqiang. (Photo: Reuters)

On Monday, India decided to hold off on signing the Regional Comprehensive Economic Partnership (RCEP) until “significant outstanding issues” were resolved, even as all other 15 countries involved in the negotiations stated that they were ready to sign the mega trade deal in 2020.