India joins US-led Indo-Pacific group

India has joined the supply chain, decarbonisation and infrastructure, and anti-tax and corruption pillars of the Indo-Pacific Economic Framework (IPEF) at the framework’s first in-person ministerial, and joined partner countries in arriving at consensual ministerial statements on each of the three pillars. The statements outline an ambitious agenda which will entail greater information sharing and investment in supply chains, including identification of critical sectors and critical goods within critical sectors to minimise disruptions; collaboration on green technology; and more robust efforts to promote a rules-based, transparent and clean trading system. As HT has reported on Friday, India has not joined the first pillar on trade embedded in the IPEF at this stage in the negotiation process. On supply chains, IPEF’s 14-member countries committed to improving “transparency, diversity, security and sustainability in our supply chains to make them more resilient, robust and well-integrated”. They recognised the importance of “fair and open markets and rules-based multilateral trading system” and that the need to secure supply chains will require an evolution in public institutions.

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