Q. With reference to the Indo-Pacific Economic Framework (IPEF), consider the following statements:
1.The IPEF partners collectively represent 40% of the global GDP.
2.IPEF lacks comprehensive dispute settlement procedures like other Free Trade Agreements (FTAs).
3.India has participated in two pillars of the IPEF but has an observer status in Supply Chain Resilience pillar.
Which of the statement(s) given above is/are correct?
Answer: A
Notes:
Explanation –
Statements 1 and 2 are correct. The Indo-Pacific Economic Framework (IPEF) partners collectively represent around 40% of the global GDP. Unlike traditional Free Trade Agreements (FTAs), the IPEF does not have comprehensive dispute settlement mechanisms. It focuses more on cooperation and setting standards rather than binding commitments and enforcement.
Statement 3 is incorrect. India has joined Pillars II to IV of IPEF, which include Supply Chain Resilience, Clean Economy, and Fair Economy. India maintains observer status only in Pillar I, which is related to Trade.
Source: The Hindu
