Explanation –

Statements 1, 2 and 3 are incorrect. The Indo-Pacific Economic Framework for Prosperity (IPEF) is a U.S.-led initiative to strengthen economic cooperation among countries in the Indo-Pacific region. United States, Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam are the members of IPEF. The IPEF is structured around four main pillars: Trade (Pillar I), Supply Chains (Pillar II), Clean Economy (Pillar III), Fair Economy (Pillar IV). The Clean Economy pillar focuses on advancing cooperation on clean energy, climate-friendly technologies, and facilitating investments in climate-related projects, not on reducing tariffs on environmental goods. India has not joined the trade pillar of IPEF. India has joined the other three pillars (Supply Chains, Clean Economy, and Fair Economy) but has opted out of the trade pillar.

Source: The Hindu