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India opts out of joining IPEF trade pillar, to wait for final contours

India to wait for final contours before formally associating with IPEF trade pillar, says Goyal

Piyush Goyal insisted members water down the WTO’s subsidy rules for government-backed food-purchasing programs aimed at feeding poor citizens. (Photo: Bloomberg)
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Commerce and Industry Minister Piyush Goyal, who was in Los Angeles to attend the first official in-person IPEF ministerial on September 8-9, said that decision was taken because so far, under the trade track, broader consensus had not emerged on cer

Shreya Nandi New Delhi
India has decided to join three pillars of the United States-led Indo-Pacific Economic Framework (IPEF)--supply chains, tax and anti corruption and clean energy–while opting out of the trade pillar for now.

Commerce and Industry Minister Piyush Goyal, who was in Los Angeles to attend the first official in-person IPEF ministerial on September 8-9, said that decision was taken because so far, under the trade track, broader consensus had not emerged on certain issues such as environment, labour and public procurement.

“On one pillar which deals primarily with trade, the contours of the framework, particularly any commitments required on environment,

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First Published: Sep 10 2022 | 12:32 PM IST

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