India’s minister for Commerce and Industry, Piyush Goyal, attended the first in-person ministerial meeting of the two-day Indo-Pacific Economic Framework (IPEF), which concluded in Los Angeles on September 10.
The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy. India has chosen to opt out from joining the trade pillar of the IPEF at this time, citing legitimate concerns.
Commenting on India’s decision, Trade Representative Katherine Tai explained, “I won’t say India has opted out of the trade pillar. I will say they are not in right now. The U.S. will hold bilateral talks with India later this year which will cover the same issues.”
U.S. secretary of commerce Gina Raimondo said that the next ministerial meet may happen in the beginning of next year.
