India has taken a tough stance during the Regional Comprehensive Economic Partnership (RCEP) negotiations and the prime minister has taken the decision to opt out of it keeping the country's best interests in mind, Commerce Minister Piyush Goyal said.
Contentious issues such as trade deficit and dumping of goods were considered during negotiations. While many of the country's demands were met, some concerns remained.
India wanted tough 'rules of origin' in RCEP FTA to stop trade circumvention. The government is considering ways to shrink trade deficit and cut unfair imports and will preserve interests of MSMEs, the minister added.