India's Strategic Approach to the Indo-Pacific Economic Framework

India is closely monitoring trade negotiations within the Indo-Pacific Economic Framework for Prosperity (IPEF) involving 13 member countries. Although India has joined three of its four pillars, it hesitates on the trade aspect due to commitments without clear market access. The IPEF covers significant GDP and trade worldwide.

India is meticulously observing the ongoing trade negotiations among the 13 countries of the Indo-Pacific Economic Framework for Prosperity (IPEF), despite not formally joining. An official highlighted the country's cautious approach on Thursday.

Formed in May in Tokyo, the IPEF brings together nations accounting for 40% of global GDP and a substantial share of global trade. The framework spans four key areas: trade, supply chains, clean economy, and fair economy.

India, already part of the agreements on supply chains, clean economy, and fair economy, remains cautious about the trade pillar due to binding commitments and market access uncertainties. As discussions continue, India assesses the potential benefits of full membership, mindful of existing trade accords with several IPEF nations.

(With inputs from agencies.)