B.V.R. Subrahmanyam, CEO of NITI Aayog, has advocated for India to join the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), suggesting that participation could enhance India's manufacturing sector and boost exports from small and medium enterprises. India previously opted out of the RCEP in 2019, citing potential harm to its farmers and businesses. Subrahmanyam emphasized that India has not fully capitalized on the 'China Plus One' strategy, which has benefitted other countries like Vietnam and Malaysia more than India. He noted that India's high tariffs have hindered its ability to attract global companies relocating from China. Joining these trade blocs could help India capture more opportunities and solidify its economic growth as it aims to become the third-largest economy by 2027. India's goods exports rose by 1.02% in the first half of the fiscal year 2024, indicating a growing market presence.