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India Completes Negotiations and Signing Phase of IPEF AgreementOverview:India has signed agreements under three pillars of the Indo-Pacific Economic Framework for Prosperity (IPEF)—Supply Chain Resilience, Clean Economy, and Fair Economy—opting out of the Trade pillar. Implementation phases are underway.

Key Concerns:

Supply Chain Pillar:

Restrictions on trading critical materials could disrupt India’s partnerships, particularly in ASEAN.Flexibility in export restrictions during emergencies is essential.

Clean Economy Pillar:

Risks of agreeing to minimum standards for clean energy technologies could harm local producers.Non-derogation clauses may limit India's ability to ease regulations for critical projects.

Fair Economy Pillar:

Anti-corruption and tax obligations could impose additional legal and administrative burdens.Recommendations:

Transparency:

The government must brief industries on the implications of commitments made under IPEF.

Standards Development:

India needs to quickly establish domestic standards to avoid disadvantageous compliance in future trade negotiations.

Basics of IPEF:

Members: 14 countries, including the U.S., Japan, Australia, and India, representing 40% of the global economy.Pillars: Trade, Supply Chain Resilience, Clean Economy, Fair Economy.

Focus:

Economic cooperation, clean energy, sustainable practices, and transparency.

Source :  GTRI

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