IPEF Members Sign Supply Chain Agreement
On 15th November, 2023, India, alongside 13 other Indo-Pacific Economic Framework for Prosperity (IPEF) nations, has entered into a significant supply chain resilience agreement, signalling a collective effort to decrease reliance on China and enhance manufacturing capabilities within the member countries.
Key Points
- Global Economic Impact: The 14 IPEF countries collectively represent 40% of the global GDP and contribute to about a third of global goods and services trade, emphasizing the substantial economic impact of this agreement.
- Objective of the Agreement: The supply chain resilience agreement aims to reduce dependence on China and facilitate the relocation of crucial goods manufacturing to ....
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