Indo-Pacific Economic Framework (IPEF): India’s Pragmatic Path in Economic Diplomacy
▫️ Introduction In the shifting geopolitical and economic landscape of the 21st century, the Indo-Pacific region has emerged as the epicenter of global growth, competition, and cooperation. Recognizing this, the United States and 13 partner nations launched the Indo-Pacific Economic Framework for Prosperity (IPEF) in May 2022. India, as a founding member, has taken a central position in shaping the framework’s trajectory.Unlike traditional Free Trade Agreements (FTAs), IPEF is not about tariff reductions or market access. Instead, it is a modular framework designed to build resilient supply chains, foster clean economies, strengthen fair governance, and create modern trade practices. India’s selective participation, especially its decision to opt out of the trade pillar while committing to other areas, highlights New Delhi’s pragmatic and cautious approach to global economic integration. ▫️The Four Pillars of IPEF: IPEF is structured into four distinct but interconnected pillars: 1. Tr...