Illustration: Luo Xuan/GT

India's choice to hold off on joining the Regional Comprehensive Economic Partnership (RCEP) isn't a wise decision.

In November, China and 14 partners in the Asia-Pacific region concluded years of negotiations for the RCEP. The 15 states reportedly make up 30 percent of the world's population and 29 percent of the world's GDP. If India decides not to join the deal, its exporters will remain in a disadvantaged position compared with some of their competitors in gaining access to the huge regional market.

India wants greater access to the Chinese market for its products like sugar and rice. China is willing to offer almost free access to Indian products through the RCEP, but it's a pity that India may pass up that opportunity.

Since the launch of the "Make in India" initiative by the Modi administration in 2014, there has been a lot of discussion about how to make India a manufacturing superpower. The nation has further liberalized its foreign direct investment rules for many sectors. India deserves praise for all of those efforts, but the country may have overlooked one thing: Whether or not India can gain free access to major consumer markets in the world will be a key factor in making India a labor-intensive processing base for foreign manufacturers. The RCEP is likely to become a driving force to help India attract foreign investment in labor-intensive manufacturing, and therefore it holds great significance for tens of millions of potential jobs in India.

India's economy is in a downward spiral, and if that continues, GDP growth is likely to break below the 4-percent psychological barrier. At this critical moment, the RCEP can probably help the Indian economy gain momentum from a possible rise in investment.

India fears that joining the RCEP will affect its manufacturing sector. This is India's core concern, and it suggests that India's government may lack confidence in the country's industrial competitiveness. That concern is understandable, but India needs to know: protectionism cannot enhance competitiveness. 

For India, a decision to not join the RCEP will only protect backward industries instead of improving productivity. The disadvantages of not joining the deal far outweigh the advantages.

The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn