India and Indo-Pacific Economic Framework for Prosperity (IPEF)

Significance

  • Pillar of Resilient Economy: This pillar would lessen the reliance of the global and Indian supply chains on China by establishing early warning systems that guarantee a steady flow of products.
  • The three Ts — "trust, transparency, and timeliness" — must be the foundation of supply chain resilience, according to our Prime Minister.
  • Clean Economy Pillar: This decarbonization pillar will put an emphasis on green technologies and environmentally friendly funding. This is viewed as a potential strategy for assisting India in achieving its goals and providing another opportunity to pressure the developed western economies to keep their promises.
  • Pillar of ....
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International Relations