5 ways how India stands to benefit from the US pulling out of TPP

United States President-elect Donald Trump on Tuesday said the US will quit the TRANS-PACIFIC PARTNERSHIP (TPP) trade deal on his first day in the WHITE HOUSE. The mega trade deal involves 12 Pacific rim nations including major economies like Japan, Australia, New Zealand and Canada. With a collective population of about 800 million, almost double that of the European Union’s single MARKET, the bloc currently accounts for 40 per cent of world trade. While the free trade deal will see tariffs slashed between member nations to boost falling trade, sections within the US has argued it will further accelerate the slide in American jobs and production. Guessing that Trump does not go back on his decision, something he is known to do, India stands to benefit in a plethora of ways if TPP does not materialise.

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HERE ARE A FEW OF THEM:-

1) Access to lucrative US market to be cut for India’s export competitors:

2) The Regional Comprehensive Economic Partnership deal to come into focus:

3) Pressure to conform with TPP standards in ongoing trade negotiations to slide:

4) India’s concerns over trade diversions and othernon-tariff barriers to lessen:

5) Greater chance of bilateral boost to trade by India and US:

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