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India to gain with from Trump’s decision to pull out of TPP

India is look at Trump’s announcement of dumping TPP in a positive light. Since India was not a part of TPP, it could have suffered some diversion of trade with the US and other member countries as TPP countries alone contribute to nearly half of world’s total trade share. The US being India’s second biggest trade partner and the single biggest export destination accounts for over 15 per cent of India’s exports (in value terms) with pearls and gemstones, textiles and apparel and pharmaceutical products being the top items of export. India exported goods worth Rs 2.6 lakh crore to the US in 2015-16. TPP could have been a serious cause for India’s fall in trade with the US.

The TPP is a trade and investment agreement between the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. India is not part of the TPP. These 12 countries together cover 40% of the world's economy. Said to be the mother of all trade agreements, the TPP was criticised and opposed by civil society groups for over seven years now. The agreement was also opposed because of the secrecy surrounding its negotiations that would have impacted the health, environment and labour of the countries involved.

 
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