TRADE TALKS: China promises greater market access to India if it improves RCEP offer

摘要

China has dangled a carrot before India to make it improve its market liberalisation offer under the Regional Comprehensive Economic Partnership(RCEP)pact by offering to open its own market even more,but India is cautious.In the one-on-one talks between the two countries,that are part of the 16-member proposed regional bloc,China has said that if India went beyond its current offer of eliminating tariffs on about 74 per cent items for the country,it would not only match it but commit to a higher number,a report in the Hindu Business Line quoted an unnamed official as saying.India,however,is apprehensive that its industry will not be able to make as much gains from the tariff elimination under RCEP as the Chinese already have a head-start which is reflected in the $54-bn trade surplus China has over India.