India Opportunity at IPEF Clean Economy Investor Forum

Source– This post on India Opportunity at IPEF Clean Economy Investor Forum is based on the article “The India Opportunity Showcased at the IPEF Clean Economy Investor Forum” published in “PIB” on 11th April 2024.

Why in the News?

Recently, an event was organised by Department of Commerce and Invest India to showcase various investment opportunities in India

About India Opportunity at IPEF Clean Economy Investor Forum

1. Organised by: The Department of Commerce and Invest India organised a meeting to showcase various investment opportunities in India. It was held at Marina Bay Sands, Singapore on June 7, 2024.

2.  Participants: Over 60 global investors and financial institutions, and more than 15 Indian firms.

3. Highlights of the event: At the event, it has been highlighted that :

i) India’s growth rate is nearly double that of other emerging market economies.

ii) Indian startups are returning home for capital access and tax benefits.

iii) AI and data centers are key to future growth.

iv) reforms aimed at streamlining regulations, enhancing transparency, and improving Ease of Doing Business.

vi) focus of government on sustainable infrastructure, climate technology, and renewable energy projects to meet Net Zero targets.

About Indo-Pacific Economic Framework for Prosperity (IPEF)

1. About: The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by U.S.A President Joe Biden in 2022.

2. Objective: It provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region.

3. Members: It has 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, USA and Vietnam.

4. Nodal agency: Department of Commerce for the IPEF engagements

5. Pillars of cooperation: The IPEF comprises four pillars of cooperation namely: Trade, Supply Chain, Clean Economy and Fair Economy.

Read more: IPEF agreementIPEF’s Clean Economy Investor Forum

UPSC Syllabus: International relations