The Prime Minister reiterated Indias support for a balanced RCEP, Preeti Saran, Secretary (East) in the Indian Ministry of External Affairs, said in a press briefing in New Delhi. However, the talks in the field have remained inconclusive.Earlier on Tuesday, Commerce Minister Suresh Prabhu said in New Delhi that India is keen to develop regional partnerships. India has asked for the services agreement to be inked as a quid pro quo.RCEP is a proposed free trade agreement covering 16 countries in the Asia-Pacific region China, India, Japan, South Korea, Australia, New Zealand, and the 10-member Association of Southeast Asian Nations (Asean). The 16 RCEP countries represent more than 3.Modi is currently in the Philippines attending both the Asean and East Asia summits.India is pushing for a deal in the services sector, where it is in a leadership position, with liberalisation of services and freedom of movement for professionals.

Overall, we would like to increase exports, but not discourage imports, Prabhu said at the inauguration of the 37th India International Trade Fair in New Delhi. Among RCEP members, China has been advocating an early finalisation of the agreement.India would like to develop regional partnerships and relationships, he said, adding that the ongoing mid-term review of the Foreign Trade Policy would be presented soon.The 19th round of RCEP negotiations, which began over five years ago, took place in Hyderabad in July this year.5 billion people and about 40 per cent of global GDP.

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