Singapore is set to host the signing ceremony for the clean economy agreement on Thursday. The 14-IPEF members, including India and the US, are expected to sign the agreement, which is aimed at boosting investments in the clean economy sector and supporting the development of low-cost technologies.
India has already sent an official delegation from its commerce ministry to Singapore for the signing ceremony. The agreement has undergone legal scrutiny and is now ready to be signed. IPEF, launched in May 2022 in Tokyo, includes countries that make up 40% of the world’s economic output and 28% of trade. The framework focuses on trade, supply chains, clean economy, and fair economy pillars.
India is part of all pillars except trade in the IPEF bloc. Other countries included in this bloc are Australia, Japan, Vietnam, and the US. The members have already implemented a supply chain agreement and are now focusing on implementing a clean economy agreement. The IPEF Clean Economy Investor Forum in Singapore aims to bring together investors, philanthropies, government agencies, companies, and entrepreneurs to increase investment in climate-related projects in the region.
The clean and fair economy agreements aim to strengthen anti-corruption measures, tax compliance, and sustainable trade. Implementing these agreements is expected to attract more investments in India’s clean energy sector
