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Question

Difficulty: MediumInternational Relations, Global Summits, and Multilateral Organizations

Which of the following multilateral economic initiatives is structured around four core pillars—Trade, Supply Chains, Clean Economy, and Fair Economy���wherein India participates in the supply chains, clean economy, and fair economy pillars, while opting out of the trade pillar commitments?

  1. Indo-Pacific Economic Framework for Prosperity (IPEF)Answer
  2. B
    Asia-Pacific Economic Cooperation (APEC)
  3. C
    Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
  4. D
    Regional Comprehensive Economic Partnership (RCEP)

Answer

Indo-Pacific Economic Framework for Prosperity (IPEF)
The Indo-Pacific Economic Framework for Prosperity (IPEF), launched jointly by the United States and Indo-Pacific partners in Tokyo in May 2022, is structured around four distinct pillars. India joined the negotiations for Pillars II, III, and IV while opting out of Pillar I (Trade) over concerns regarding environmental and labor conditionalities.

Step-by-Step Solution

1
Identify the multilateral initiative based on its structural architecture and India's membership arrangement.
The Indo-Pacific Economic Framework for Prosperity (IPEF) consists of 14 partner nations in the Indo-Pacific region.
IPEF is designed around four key pillars: Pillar I (Trade), Pillar II (Supply Chains), Pillar III (Clean Economy), and Pillar IV (Fair Economy).
2
Verify India's specific pillar-wise involvement.
India signed and ratified agreements under Pillars II, III, and IV, but opted out of joining Pillar I due to concerns regarding digital trade standards, labor, and environmental obligations.
This modular arrangement allows partner countries to choose which pillars to negotiate binding agreements under.

Key Concept

Indo-Pacific Economic Framework for Prosperity (IPEF) Pillars and Membership Status
Estimated Time:1m 0s
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Topics

International Relations, Global Summits, and Multilateral Organizations