San Francisco [US], November 15 (ANI): India joined the United States and 12 other components of the Indo-Pacific Prosperity Economic Framework (IPEF) to sign the Source Chain Resilience Agreement of IPEF, which, according to Union Minister Piyush Goyal, “strengthen and strengthen global chains of origin. India and the United States are among the 14 components of the IPEF IPEF on chain of origin resilience, along with Australia, Brunei Darussalam, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore and Thailand and Vietnam. This global agreement on chain of origin resilience is seen as a way to reduce heavy dependence on China , especially after severe disruptions at origin following the Covid shock. Under the proposed agreement, IPEF components seek to seek a framework to develop their collective understanding of significant dangers to the origin chain; improve crisis coordination and reaction to source chain disruptions. It will also seek to ensure that staff and businesses, i. e. micro, small and medium-sized enterprises, gain benefits from resilient, physically powerful and effective chains of origin; ensure the availability of a sufficient number of professional staff in critical sectors and key assets, adding through staff upskilling and retraining, among others. In a post on a microblogging site, “strengthen and strengthen” global chains of origin and “promote adaptability, stability and sustainability. ” Goyal thanked her American counterpart Gina Raimondo for her personal leadership and leadership. commitment to ensuring this “truly historic” moment towards a more resilient future. Following the publication of the IPEF in Tokyo, Japan, on May 23 last year, and the upcoming publication of the IPEF Ministerial Declarations on September 9, the components have worked constructively, adding up through 4 rounds of negotiations in In person, several virtual consultative meetings and quite a few bilateral meetings have been held, according to a report by the US Trade Commission. Earlier on November 13, Goyal participated in the Investor Roundtable on Diversity in collaboration with the US-India Strategic Partnership Forum and Indiaspora. The occasion brought together venture capitalists and marketers from a wide variety of industries in the United States, including energy, production, logistics and technology, among others. During an interactive diversity consultation held in San Francisco as part of the first leg of the US tour, the Union Minister held extensive discussions with the participants and highlighted the various measures taken by the Government of India to improve the ease of doing business. To date, he has held various bilateral meetings with his counterparts from various countries. “. . . highlighted how the country offers promising opportunities for investors, thanks to the unique combination of our demographic dividend, manufacturing features and favorable business environment,” Goyal said about India as an attractive investment destination for the world. The Minister of Commerce and Industry began his official tour of the United States with a stop at the Tesla factory in Fremont and met with senior managers of the Tesla group. In an article on X, Goyal said the American electric car maker would double its component imports from India. He said he was “excited” to see Indian engineers and finance professionals take up leadership positions and contribute to Tesla’s venture of reshaping mobility. Tesla CEO Elon Musk had said in June this year that he planned to make a stopover in India next year, adding that he was confident that the electric car maker would have a presence in India and would do so “as soon as humanly possible. ” “. . ” (ME TOO)
