Explanation – The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by U.S. The framework aims to strengthen economic partnerships among participating countries to enhance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. The IPEF is structured around four main pillars: Trade, Supply Chains, Clean Economy, Fair Economy. India, Japan, and Australia are all members of the IPEF, while China is not.

Source: AIR