India has signed the Indo-Pacific Economic Initiative (IPEF) agreement on supply chain stability. Indian Minister of Industry and Commerce Piyush Goyal announced this on social networks.
“India joins the United States and 12 other Indo-Pacific Economic Initiative partners in signing the IPEF agreement on supply chain resilience,” Goyal writes.
According to the Indian minister, the new union will strengthen global supply chains and help stability and sustainability.
IPEF is a coalition of 14 major economies in the Indo-Pacific region, including the United States, Australia, Vietnam, Japan, South Korea and other countries; However, China is not included in this chain. According to experts, Washington is trying to create an alternative to developing economic ties with Beijing for regional countries by establishing a new trade union.
Before that, Ministry of Foreign Affairs reported Regarding negotiations between Secretary of State Antony Blinken and Indian Prime Minister Narendra Modi.
Previously Modi stated On the readiness to accept Putin in India.