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India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination.
The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions.
The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
The 14 countries that are part of IPEF include India, Australia, the US, Japan, Fiji, Korea, New Zealand, Singapore and Thailand, and make up for 40% of global gross domestic product and about a third of global goods and services trade.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF […]