India elected as Vice-Chair in IPEF Supply Chain Council

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