Context:
Government of India has clarified that being the member of Indo-Pacific Economic Framework for Prosperity (IPEF) will not impose restrictions on India’s policy making.
What is IPEF Agreement?
What is Regional Comprehensive Economic Partnership (RCEP)?
RCEP is a trade agreement involving 15 countries in the Asia-Pacific region, namely the 10 member states of the Association of Southeast Asian Nations (ASEAN) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam — as well as China, Japan, South Korea, Australia, and New Zealand.
IPEF’s four Pillars:
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