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Mahesh

03/09/22 05:11 AM IST

Indo-Pacific Economic Framework (IPEF)

In News 
  • Shri Piyush Goyal to visit San Francisco and Los Angeles from 5-10 September to attend the first ever in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF).
  •  The Minister will also launch Institute of Chartered Accounts of India’s (ICAI) representative offices in USA.
IEPF 
  • The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched jointly by USA and other partner countries of the Indo-Pacific region on May 23, 2022 at Tokyo.
  • The IPEF seeks to strengthen economic engagement among partner countries with the goal of advancing growth, peace and prosperity in the region.
  • The framework is structured around four pillars relating to Trade (Pillar I); Supply Chains (Pillar II); Clean Economy (Pillar III); and Fair Economy (Pillar IV). 
  • The meet would focus on strengthening economic cooperation and enhancing resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region.
  • The framework is inclusive and allows flexibility to partner countries to associate with pillars based on their respective priorities.
Significance 
  • The Minister is to engage with the vibrant Startup community in San Francisco to explore greater partnerships with the Indian startup ecosystem, mobilize global capital for India’s domestic markets, and encourage mentorships by experienced global business leaders for Indian entrepreneurs.
Source- PIB 

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