Bangkok (dpa) - A free trade deal spanning Asia and beyond that was spearheaded by China will have to go ahead without India, which has decided not to join due to concerns about "the fairness and balance of the agreement."

China has been working to secure the agreement, dubbed the Regional Comprehensive Economic Partnership (RCEP), which would encompass one-third of world trade and include almost half of the world's population.

The RCEP was foreseen for the 10 members of the Association of South-East Asian Nations (ASEAN) and six other countries: China, Japan, India, South Korea, Australia and New Zealand. The leaders of those nations attended a meeting on the deal on Monday, the final day of the ASEAN summit.

"India conveyed its decision at the summit not to join the RCEP agreement," Vijay Thakur Singh, a secretary at the Indian External Affairs Ministry, said at a summit press briefing.

"This reflects both our assessment of the current global situation as well as the fairness and balance of the agreement," she said.

Prime Minister Narendra Modi opted out of the agreement because of the "adverse impact it would have on the lives of all Indians," including more vulnerable sections of society, External Affairs spokesman Raveesh Kumar said on Twitter.

The proposed Beijing-led deal gained traction after US President Donald Trump pulled out of the 12-nation Trans-Pacific Partnership (TPP).

Thai Prime Minister Prayut Chan-o-cha, the chairman of the summit of ASEAN leaders in Bangkok, said in an earlier statement that the conclusion of negotiations and commitment to sign the RCEP in 2020 "will significantly contribute to an open, inclusive and rules-based international trading system and expansion of value chains."

During the summit's official opening ceremony earlier on Sunday, Prayut had called on negotiations to be concluded "within this year to stimulate economic growth as well as trade and investment."