Bengaluru: Karnataka Chief Minister B.S. Yeddiyurappa here on Monday assured entrepreneurs and the international community a congenial atmosphere for business, in the light of India rejecting the Regional Comprehensive Economic Partnership (RCEP).
“I want to assure investors and business leaders that we are determined to create congenial atmosphere for entrepreneurs,” said Yeddiyurappa inaugurating the Bengaluru Tech Summit (BTS) 2019.
On non-signing of the mega trade deal, he said Prime Minister Narendra Modi was determined to protect interests of poor and farmers.
Reaching out to the international community, Yeddiyurappa said, “That (rejecting RCEP) doesn’t mean that he (Modi) will not take care of investors.”
On November 4, India declared it would not join the RCEP, a 16-nation mega trade deal in the Asia Pacific region, which also includes the Association of Southeast Asian Nations (ASEAN).
ASEAN members are Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Brunei, Cambodia, Myanmar and Laos.
According to the PHD Chamber of Commerce and Industry’s research bureau, India’s bilateral trade with ASEAN is estimated to touch $300 billion by 2025.