India to sign clean and fair economy deals under IPEF

Commerce ministry to move Cabinet note after completion of legal vetting by February

- Dhirendra Kumar

India is expected to sign a much-awaited deal on two more pillars of the US-led Indo-Pacific Economic Framework—clean economy and fair economy—early next year, two officials aware of the matter said.

India’s law ministry is currently vetting proposals for IPEF’s clean economy and fair economy pillars, following which the commerce ministry will move for cabinet approval, the officials said.

"Both the pillars are very important for the country. The clean economy (Pillar-III of the IPEF) is aimed at cooperation on research, development and commercialisation of clean energy and climate-friendly technologies," one of them said.

Under the fair economy deal (Pillar-IV), India will strengthen implementation of effective anti-corruption and tax measures to boost trade and investment among IPEF economies, the official added.

The ministries of finance and commerce did not reply to queries sent on Tuesday.