India Joins US-Led Supply Chain Resilience Pact Under IPEF
News: India formalized its commitment to the Supply Chain Resilience Agreement (Pillar-II) under the Indo-Pacific Economic Framework (IPEF) in November 2023, effective February 2024.
Covering 14 nations representing 40% of global GDP, the pact strengthens supply chains critical to national security and economic stability.
A Supply Chain Council (SCC) was formed, with the US as Chair and India as Vice-Chair. India leads efforts in healthcare and pharma, with teams targeting semiconductors, critical minerals, and chemicals. Key MoUs with the US on semiconductors and critical minerals bolster India’s role in resilient supply chains, including logistics and data analytics optimization initiatives.
Source: Egov
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