Indo-Pacific Economic Plan on cards soon

The US is set to introduce a much-awaited economic initiative, the Indo-Pacific Economic Framework (IPEF). This is aimed at enhancing USA’s involvement in Asia by developing a supply chain that excludes China and is eager that India joins the group and plays a bigger role in the region. The framework is viewed as reflecting the Western nation’s ambitions to expand ties with key Indo-Pacific economies by building a supply chain that excludes China.

The Indo-Pacific Economic Framework encompasses trade facilitation, particularly for small and medium enterprises (SMEs); standards for a digital economy and technology; supply-chain resilience; decarbonisation and clean energy; infrastructure; workers’ standards; and, other areas of shared interest. India, however, is concerned some of the pillars, particularly trade, and its implications and is currently holding discussions with the US officials over it.