Prime Minister Narendra Modi will participate in U.S. President Joseph Biden’s unveiling of the Indo-Pacific Economic Framework (IPEF) in Tokyo, a U.S. initiative for trade partnerships in the region.
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Modi’s attendance at the event is a significant step towards building economic ties among Quad countries (India, the U.S., Australia and Japan) in the Indo-Pacific.
But officials were hesitant to bill the IPEF as a counter to the 15-nation Regional Comprehensive Economic Partnership (RCEP) and the 17-nation Trans-Pacific Partnership (TPP) that China is a member of.
The IPEF would have a “very wide-ranging membership” and the programme was “designed to put workers at the centre with a focus on the digital economy, clean energy transition, infrastructure and resilient supply chains.
India has not taken a decision on joining the framework, but is keen on understanding the “contours” of the American plan.
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