India's Possible Response to the Challenge of the Mega-Regionals

Published online in Foreign Trade Review, 8 March 2016, DOI: 10.1177/0015732515625720

14 Pages Posted: 17 May 2015 Last revised: 21 Oct 2016

See all articles by Dan Ciuriak

Dan Ciuriak

Ciuriak Consulting Inc.; Centre for International Governance Innovation (CIGI); C.D. Howe Institute; Asia Pacific Foundation of Canada; BKP Development Research & Consulting GmbH

Date Written: July 14, 2015

Abstract

The mega-regional trade agreements, particularly the Trans-Pacific Partnership (TPP), the Transatlantic Trade and Investment Partnership (TTIP), and the Trade in Services Agreement (TISA), represent a new phenomenon for the trading system. As major preferential trade agreements that involve the world’s largest economies (the United States and the European Union) they cover a large share of global trade and, thus, generate large spillover effects on non-parties to the negotiations. Further, the ambitious rule-making agenda shifts the locus of global rule-making and standard-setting from the inclusive World Trade Organization to the small number of participants in these negotiations. These rules and standards will shape markets and, thus, amplify the direct effect of discriminatory preferences. This note discusses the factors driving the mega-regionals, considers the significance of these negotiations for excluded parties, and suggests how India, in particular, might respond.

Keywords: India, mega-regional trade agreements, trade rules, non-tariff measures, standards, spillovers, TPP, TTIP, TISA, RCEP

JEL Classification: F15, L52, O25

Suggested Citation

Ciuriak, Dan, India's Possible Response to the Challenge of the Mega-Regionals (July 14, 2015). Published online in Foreign Trade Review, 8 March 2016, DOI: 10.1177/0015732515625720. Available at SSRN: https://ssrn.com/abstract=2606720 or http://dx.doi.org/10.2139/ssrn.2606720

Dan Ciuriak (Contact Author)

Ciuriak Consulting Inc. ( email )

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Ottawa, Ontario K1N 6H9
Canada

Centre for International Governance Innovation (CIGI) ( email )

57 Erb Street West
Waterloo, Ontario N2L 6C2
Canada

C.D. Howe Institute ( email )

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Toronto, Ontario M5E 1J8
Canada

Asia Pacific Foundation of Canada ( email )

Canada

HOME PAGE: http://ciuriakconsulting.com/

BKP Development Research & Consulting GmbH ( email )

Romanstrasse 74
München, 80639
Germany

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