Font size:
Print
Indo-Pacific Economic Framework for Prosperity
Context:
The Indo-Pacific Economic Framework for Prosperity (IPEF) is set to host its inaugural Clean Economy Investor Forum in Singapore on June 5-6, 2024.
About Indo-Pacific Economic Framework for Prosperity (IPEF):
- Launched in 2022.
- 14 members: USA, Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
- The 14 IPEF partners represent 40 percent of global GDP and 28 percent of global goods and services trade.
- Functions:
-
- Provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth.
- Contributes to cooperation, stability and prosperity in the region.
- Framework Pillars:
-
- Trade
- Supply Chains
- Clean Energy, Decarbonization, and Infrastructure and
- Tax and Anti-Corruption.
About IPEF Clean Economy Investor Forum:
- It is a key initiative under the IPEF Clean Economy Agreement to catalyse investment for sustainable infrastructure and climate technology across IPEF partners.
- It brings together the region’s top investors, philanthropies, financial institutions, innovative companies, start-ups and entrepreneurs.
-
- The Forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects.
- The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India.
- India will showcase some of the large infrastructure projects in Clean Economy and top climate tech companies to the global investors for investment opportunities.
- The Forum will have opportunity for the Indian industry in the two following tracks:
- Climate Tech Track: Under this track, IPEF Clean Economy Investor Forum is holding an open call that aims to recognise the top climate tech companies and start-ups among the member countries and present them to global investors.
- Infrastructure Track: Under this track, India will showcase selected investible sustainable infrastructure projects at the 2024 Forum.
- The sectors of focus are-energy transition (e.g electric gird; renewable energy, including solar, and onshore wind; sustainable aviation fuel; battery storage; hydrogen; green data centres), transport and logistics (e.g. Electric Vehicle, EV charging points), waste management/waste to energy.
Invest India:
- National Investment Promotion and Facilitation Agency of India, set up as a non-profit venture under Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
- Facilitates and empowers all investors under the ‘Make in India’ initiative to establish, operate, and expand their businesses in India.
- Envisaged as a one-stop shop specially created to attract and retain high-quality investments in India.
