IAS Coaching in Bangalore

Indo-Pacific Economic Framework for Prosperity (IPEF)

Context:

• The United States is coming up with a new initiative termed as the Indo-Pacific Economic Framework for Prosperity (IPEF) which has been presented at a virtual meet in Tokyo.

What are the areas of interest?

1. Trade
2. Supply chain resiliency
3. Clean energy and decarbonisation
4. Taxes and anti-corruption measures

About:

• This initiative mainly comprises of all the Quad countries and also seven out of ten ASEAN countries and New Zealand.
• The grouping has gained significance as the countries put together put upto 40 percent of the global GDP.
• India has signaled that it is willing to work with the grouping which will be a significant forum in the region.