India has signed the first-of-its-kind agreements focused on a Clean Economy, Fair Economy, and the overarching Indo-Pacific Economic Framework (IPEF) in Delaware, USA. These agreements were exchanged under the Indo-Pacific Economic Framework (IPEF) for prosperity yesterday in the presence of Prime Minister Narendra Modi, who is on a three-day visit to the US for the Quad Summit. The Agreement on Clean Economy intends to promote technical cooperation, workforce development, capacity building, and research collaborations.
It will facilitate investments and project financing, including concessional financing, as well as joint collaborative projects, with a particular emphasis on supporting Micro, Small, and Medium Enterprises (MSMEs). The Fair Economy Agreement seeks to create a more transparent and predictable trade and investment environment across the Indo-Pacific. Meanwhile, the overarching IPEF Agreement aims to establish a high-level political oversight framework at the ministerial level for the various individual IPEF agreements, providing general guidance and goals while aligning with leaders’ vision and mandate for the IPEF.
