India and US to Sign Landmark Clean Economy Agreement

The 14-IPEF members, including India and the US, are set to sign a clean economy agreement in Singapore, bolstering investments in the sector and fostering low-cost technology development. The agreement, discussed since November, will be ratified post-signing, enhancing anti-corruption, tax measures, and sustainable trade initiatives.

Fourteen member nations of the Indo-Pacific Economic Framework for Prosperity (IPEF), including India and the United States, are poised to sign a pivotal clean economy agreement in Singapore this Thursday. The landmark deal aims to catalyze investments in the clean economy sector and propel the development of cost-effective climate technologies, an official revealed.

The negotiations for this agreement were wrapped up in November of the previous year. Following its signing, the accord will undergo ratification. An Indian delegation from the commerce ministry is already on the ground in Singapore. 'Legal scrubbing of the agreement is completed, and it will be signed,' the official noted.

Launched on May 23, 2022, in Tokyo, IPEF is a collaborative effort of the US and its Indo-Pacific allies that collectively represent 40% of global economic output and 28% of trade. The framework is divided into four key pillars: trade, supply chains, clean economy, and fair economy. India is engaged in all pillars except trade.

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