India may take a cautious stance on the proposed Indo-Pacific Economic Framework (IPEF), details of which will be unveiled by US President Joe Biden at the Quad leaders' summit in Tokyo on Tuesday.
Prime Minister Narendra Modi on Sunday left to attend the second in-person Quad summit, along with his counterparts from the US, Japan, and Australia. Quad is believed to be a forum to strategically counter China's economic and military rise. After the Trump administration decided to exit the Trans-Pacific Partnership (TPP) trade deal, the Biden administration seeks to engage with the Indo-Pacific countries through a fresh economic approach. However, IPEF is not meant to be a traditional free trade agreement where countries are required to cut tariffs, giving each other greater market access. This has led to many Southeast Asian countries questioning its relevance. India has not so far revealed its position on the issue.
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