India elected as Vice-Chair in IPEF Supply Chain Council

India has been elected as Vice-Chair of the Supply Chain Council and the USA as Chair of the Supply Chain Council, under the IPEF Agreement on Supply Chain Resilience.

India's Role and Position

India elected as Vice-Chair of the Supply Chain Council
USA elected as Chair of the Supply Chain Council
India to play crucial role in developing resilient supply chains
Commerce Secretary Sunil Barthwal highlighted India's potential as a major player in global supply chains
India emphasized collaboration in skill development and identifying critical sectors

IPEF Supply Chain Bodies Established

14 IPEF partners, including India, set up three supply chain bodies
Bodies created under the IPEF Agreement on Supply Chain Resilience
The three bodies are:

a) Supply Chain Council (SCC)

b) Crisis Response Network (CRN)

c) Labor Rights Advisory Board (LRAB)

Inaugural virtual meetings held to launch these bodies
Aim to strengthen supply chain resilience and competitiveness in the Indo-Pacific region

IPEF Overview and India's Participation

Indo-Pacific Economic Framework for Prosperity (IPEF) launched on May 23, 2022, in Tokyo, Japan
14 member countries, including India, USA, Japan, and Australia
Framework structured around four pillars:

I. Trade (India has observer status)

II. Supply Chain Resilience

III. Clean Economy

IV. Fair Economy

India joined Pillars II to IV
IPEF Supply Chain Resilience Agreement signed in November 2023, ratified in February 2024

Objectives and Future Plans

Facilitate closer cooperation among IPEF partners
Strengthen resilience and competitiveness of critical supply chains
Prepare for and respond to supply chain disruptions
Strengthen labor rights across regional supply chains
Upcoming in-person meeting in Washington, D.C. in September 2024
Supply Chain Summit to be held alongside the meeting

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