India signed key agreements focused on a clean economy, fair economy and the IPEF Overarching arrangement under the Indo-Pacific Economic Framework for Prosperity (IPEF) during Prime Minister Narendra Modi’s meeting with the leaders at the Quad Summit in the US, the government said on Sunday.
According to a statement from the Ministry of Commerce and Industry, these pacts would facilitate development, access and deployment of clean energy and climate-friendly technologies.
The IPEF 'Clean Economy Agreement' aims to promote technical cooperation, workforce development, capacity building, and research collaborations; and collaborate to facilitate development, access, and deployment of clean energy and climate-friendly technologies.
It aims to collectively accelerate efforts of IPEF partners towards energy security and transition, climate resilience and adaptation and GHG emissions mitigation, said the ministry.
The IPEF 'Fair Economy Agreement' intends to create a more transparent and predictable trade and investment environment across the Indo-Pacific.
To achieve these goals, the IPEF partners will collaborate to enhance their efforts in preventing and combating corruption, including bribery, and supporting initiatives to improve tax transparency, the exchange of information, domestic resource mobilisation, and tax administration.
The 'Overarching IPEF Agreement' seeks to establish a high-level political oversight framework at the Ministerial level over the various individual IPEF agreements, while setting general guidance and goals.
The ministry said that agreement is expected to facilitate the effective implementation of subject agreements, that have the potential to enhance India's productive capacity, and integration into supply chains, and promote innovation, in line with the concept of ‘Atmanirbhar Bharat’.
The Union Cabinet, chaired by PM Modi, had accorded the approval earlier this month for the signing and ratification of these three agreements.
The IPEF partners aim to catalyse investment in green technology and reduce GHG emissions through various means including annual business matching events under the Investor Forum.
At the inaugural forum in Singapore in June, IPEF partners identified $23 billion worth priority infrastructure projects, including $4 billion from India which offered potential opportunities for investment in some Indian renewable energy companies.
IPEF was launched on May 23, 2022 in Tokyo, comprising 14 countries. It seeks to strengthen economic engagement and cooperation among partner countries to advance growth, economic stability and prosperity in the region.
Ahead of Sunita William’s ‘homecoming’, PM Modi pens letter to India’s illustrious daughter
As the NASA astronauts Sunita Williams and Butch Wilmore begin their journey back home from space, after staying ‘stranded’ at the International Space Station (ISS) for about nine months, Prime Minister Narendra Modi has written a letter to one of India’s most illustrious daughters hoping for her safe return.
PM's Maha Kumbh statement in LS: Speaker invokes Rule 372, LoP Rahul takes ‘new India’ jibe
As Prime Minister Narendra Modi on Tuesday described the Maha Kumbh 2025 as a moment of ‘awakening’ for the nation and credited its success to countless contributions from countrymen, this prompted protests from the Opposition and also ‘new India’ jibe from Leader of Opposition (LoP) Rahul Gandhi. The House was adjourned for the day soon after that.
India resolved to eliminating 5 diseases in 5 years, TB control progressing well: Dr VK Paul
India is resolved to eliminating five diseases in the coming five years that include leprosy, lymphatic filariasis, measles, rubella and kala-azar, Dr V.K. Paul, Member, NITI Aayog, said on Tuesday.
New Zealand PM visits Akshardham temple, lauds Hindu community's contribution back home
Prime Minister of New Zealand, Christopher Luxon visited the Akshardham temple in New Delhi on Tuesday, the third day of his ongoing March 16-20 official visit to India.
Won’t spare anyone indulging in riots, attacks on police: Maha CM on Nagpur violence
Maharashtra Chief Minister Devendra Fadnavis on Tuesday stated in the Assembly that the government will not spare those who indulged in rioting and attacked the police in Nagpur.
11 illegal migrants held in February in Dharmanagar and Agartala
As per NFR, in an incident on 15th February RPF team of Agartala conducted a routine drive at Agartala Railway Station. While checking they detected 02 female Bangladeshi national sat the station.
State aims to install 50,000 solar plants in 2025: Power Minister
The present state government has set an ambitious goal of installing 50,000 solar plants across the state during the current financial year, Power Minister Ratan Lal Nath announced on Sunday.
Tension in Manipur districts after Meitei youth goes missing
A 20-year-old youth, belonging to the Meitei community has gone missing from Manipur’s Imphal triggering serious tension in both Imphal West and Imphal East districts, officials said on Monday night.