Clean Economy Investor Forum

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Indian delegation participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.

About Indo-Pacific Economic Framework for Prosperity (IPEF):

  • It is an economic initiative launched by the United States President on May 23, 2022.
  • IPEF has 14 members: Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.
  • This framework is intended to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for member economies.
  • The forum seeks to go beyond traditional free trade agreements and work on the issues of supply chains, clean energy, decarbonisation, infrastructure, and tax and anti-corruption.
  • Four pillars of cooperation: Trade, Supply Chain, Clean Economy, and Fair Economy. India is not part of the trade pillar.

Clean Economy Investor Forum:

  • The IPEF Clean Economy Investor Forum is one of the initiatives under the IPEF.
  • It brings together the region's top investors, philanthropies, financial institutions, innovative companies, startups and entrepreneurs. The forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects.

The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India, the country's national investment promotion agency.

Q1). What is the Indo-Pacific Strategy?

The Indo-Pacific Strategy is a comprehensive approach by the United States to promote a free and open Indo-Pacific region. It aims to counter China's assertiveness, advance the US relationship with India, and support India's role as a net security provider. The strategy involves building collective capacity, promoting economic cooperation, and enhancing maritime security.

Source: India participates in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum