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India Joins US-led Indo-Pacific Economic Bloc

Published on May 25, 2022
Current Context: Recently India has joined Indo-Pacific Economic Framework for Prosperity (IPEF), to counter China’s aggressive expansion in the region.
India Joins US-led Indo-Pacific Economic Bloc
  • With the help of this initiative, they will mainly focus on four areas the digital economy, supply chains, infrastructure projects and clean energy, and tax and anti-corruption measures.
  • This helps to develop a common and create solutions to counter regional economical challenges.
  • Apart from India, there are a total of 13 countries that support this initiative including Australia, Brunei, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam.
  • The total amount of GDP of member countries accounts for 40% of the global GDP.
  • The Indo-Pacific region is considered to have a centre of manufacturing, economic activities, trade, and investments. by joining this initiative India can develop its global outreach and strengthen its economic partnership.
  • This initiative helps partner countries to build high-standard, inclusive, free, and fair trade commitments and also promotes sustainable and inclusive economic growth.

Question:

Q.1 Which of the following country is not a member of the Indo-Pacific Economic Framework?
a. India
b. Australia
c. Brunei
d. China
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