India Opts Out of Trade Talks With US-Led Indo-Pacific Group (ndtv.com)
India made a similar move in 2019, when it decided to exit talks on the China-backed the Regional Comprehensive Economic Partnership, the world’s largest regional free-trade agreement that includes nearly a third of global population and gross domestic product.
India opted out of trade talks with a US-led group of Asian nations, again avoiding easing access to its markets via a multi-country deal, while moving ahead with the others in areas including supply chains and clean energy.
India was the only participant in the 14-nation Indo-Pacific Economy Framework that didn’t sign on to the group’s negotiation track on trade, according to statements released after two days of meetings in Los Angeles.
Known as IPEF, the initiative is an effort by President Joe Biden’s administration to deepen ties with Asian nations through a range of issues including trade, climate change, supply chains and taxation. It’s also among US levers to counter China’s rising influence, although US officials have stressed that they aren’t asking partners to choose between Washington and Beijing.
India made a similar move in 2019, when it decided to exit talks on the China-backed the Regional Comprehensive Economic Partnership, the world’s largest regional free-trade agreement that includes nearly a third of global population and gross domestic product.
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