India’s decision to drop out of Asia’s mega free trade agreement, the Regional Comprehensive Economic Partnership (RCEP), is the outcome of a hard-nosed calculation. By stepping aside at the last minute, even as the remaining 15 members of the trade pact (10 ASEAN countries, China, Japan, South Korea, Australia, and New Zealand) committed to its signing on Nov 4, India conveyed that it continues to have huge reservations over whether the trade deal can advance its national economic interests.