Summary
India has signed agreements with the Indo-Pacific Economic Framework for Prosperity (IPEF) focusing on clean and fair economy initiatives during Prime Minister Narendra Modi’s visit to the United States for the Quad Summit. These agreements aim to enhance cooperation in developing clean energy and climate-friendly technologies, as well as improving business environments through measures like anti-corruption and tax transparency.
The signing of these agreements took place on September 21, 2024, in Delaware, marking a significant step in India’s engagement with the IPEF, which comprises 14 member countries. The agreements are designed to facilitate investment and catalyze the deployment of clean energy solutions, reflecting a commitment to addressing climate change and promoting sustainable economic practices. This move aligns with previous discussions held among IPEF members in Singapore, where agreements were initially made, and demonstrates India’s readiness to participate actively in international economic frameworks that prioritize sustainability and equitable growth.
Key Objectives of the Agreements
- Clean Energy Development: The agreements focus on accelerating the development and deployment of clean energy technologies.
- Anti-Corruption Measures: Strengthening measures to combat corruption and promote transparency in business practices.
- Investment Facilitation: Encouraging investment in clean economy initiatives to foster sustainable economic growth.
These agreements highlight India’s strategic positioning within the Indo-Pacific region, showcasing its commitment to collaborative efforts aimed at fostering a resilient and sustainable economic environment.
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