India pulled out of RCEP, as the deal might hurt Indians

India pulled out of Regional Comprehensive Economic Partnership (RCEP) at the last minute because the deal would hurt the farmers, businesses, workers, and consumers. Whereas, China joined the deal with 14 different countries.

India has yet not closed the door on China-led regional economic pact, Asia's third-largest country pulled out of the deal last November, Foreign Minister Subrahmanyam Jaishankar said on Wednesday.

10-member Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, Australia, and New Zealand were brought together in RCEP.

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"Where RCEP is concerned, we have to look at cost and benefit. We will evaluate RCEP on its economic and trade merit. We have not closed our mind to it," Jaishankar said.

( Inputs from Reuters)