India Holds Back on IPEF Signings Awaiting Domestic Approval

Thirteen IPEF bloc members have signed clean economy agreements, while India awaits domestic approval before formalizing the deal. The conclusion of the agreements occurred in Singapore. India's Commerce Secretary led the delegation at the ministerial meet. The agreements will become effective once five IPEF partners finalize their internal legal procedures.

In a significant development, the government announced on Thursday that thirteen members of the Indo-Pacific Economic Framework for Prosperity (IPEF) have signed agreements on clean economy. However, India has withheld its signature pending domestic approval.

'India did not formally sign these agreements as domestic approval processes are still underway and will be completed after the formation of the new government,' stated the commerce ministry.

India's Commerce Secretary, Sunil Barthwal, led the delegation at the ministerial meet in Singapore, where discussions finalized these transformative agreements. The IPEF bloc, comprising 14 nations, represents 40 percent of the world's economic output and 28 percent of global trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)