Next meeting of IPEF's Supply Chain Council in Dec: Commerce Ministry

The Commerce Ministry announced that the next meeting of the Supply Chain Council, established under the 14-member Indo-Pacific Economic Framework for Prosperity (IPEF), will take place in December. The IPEF, launched by the United States and partner countries in the Indo-Pacific region on May 23, 2022, in Tokyo, represents 40% of the world's economic output and 28% of global trade. Comprising Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam, the IPEF is structured around four main pillars: trade, supply chains, clean economy, and fair economy. India participates in all pillars except for trade. The Supply Chain Resilience Agreement, which aims to bolster supply chains through collaboration among member countries, took effect on February 24. As part of this framework, three key institutional bodies