India Participates in Signing of Landmark Indo-Pacific Economic Agreements
GG News Bureau
New Delhi, 7th June. An Indian delegation led by Commerce Secretary Shri Sunil Barthwal participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting held in Singapore today. The meeting marked a significant step forward for the economic framework, with the signing of agreements on Clean Economy and Fair Economy.
While India actively participated in the proceedings and negotiations, it did not formally sign the agreements due to ongoing domestic approval processes. These agreements will come into effect after at least five IPEF partners complete their internal procedures.
Key Highlights:
Signing of Agreements: IPEF members signed the first-of-their-kind Clean Economy and Fair Economy Agreements, aiming to address 21st-century challenges and strengthen economic ties within the region.
Upskilling Initiative: India received a significant portion of the 10.9 million upskilling opportunities provided by the IPEF Upskilling Initiative, primarily benefiting women and girls.
Launched in May 2022, IPEF is a framework for economic cooperation among 14 Indo-Pacific countries. India is a member of Pillars II (Supply Chain Resilience), III (Clean Economy), and IV (Fair Economy), while maintaining observer status in Pillar I (Trade).
This participation in IPEF signifies India’s commitment to strengthening economic engagement and achieving shared prosperity in the Indo-Pacific region.
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