The deal would form a major trading bloc involving the region's top economies and cover nearly a third of the world's GDP.
. Negotiations for the trade pact began in 2013 and India's reluctance to open up its markets has been one of the major obstacles over time.
"In the given circumstances, we believe that not joining the agreement is the right decision for India. We would continue to persevere and strengthening our trade, investment and people-to-people relations with this region," Singh said. about the potential surge of Chinese imports and what it argues is a lack of progress on its offensive interests, notably services market access," analysts at political consultancy Eurasia Group, wrote in a note Monday note.
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