Date: 21/11/2023

Cautious approach urged on IPEF pacts

India should follow a cautious approach while finalising the text of the Indo-Pacific Economic Framework for Prosperity (IPEF) pacts as new commitments need not restrict its policy space or tax revenue generation abilities, after the IPEF members concluded the negotiations for fair and clean economy agreements, said a report by the think tank Global Trade Research Initiative (GTRI). This includes careful considerations in areas such as clean economy commitments, labour standards and agricultural policies. India, the US and 12 other members of the IPEF concluded the negotiations on the clean and fair economy agreements to strengthen the implementation of effective anti-corruption and tax measures and promote sustainable trade. India should also not agree to minimum standards on clean energy products/technologies for domestic markets as this would prevent producers from selling in the domestic markets and relying on imports, said a report.
Source: Exim News Service: New Delhi, Nov. 20