India signs clean and fair economy agreements under IPEF
ECONOMY & POLICY

India signs clean and fair economy agreements under IPEF

India has signed key agreements on the Clean Economy and Fair Economy under the Indo-Pacific Economic Framework (IPEF) on 21 September 2024, during Prime Minister Narendra Modi's visit to Delaware, USA, for the Quad Summit. The signing of these agreements is seen as a significant move towards promoting green technology, energy transition, and anti-corruption initiatives, reinforcing India's role in the economic development of the Indo-Pacific region.

The Clean Economy Agreement, part of Pillar-III of IPEF, focuses on enhancing technical cooperation, workforce development, and investment in climate-friendly technologies. It also facilitates project financing and the development of joint collaborative projects, with a particular focus on MSMEs and integrating Indian companies into global value chains. The agreement includes initiatives like the IPEF Catalytic Capital Fund and the IPEF Accelerator, aimed at supporting green energy and improving climate resilience. Meanwhile, the Fair Economy Agreement, under Pillar-IV, aims to increase transparency and predictability in trade and investment within the Indo-Pacific. Its focus includes combating corruption, improving tax transparency, and supporting asset recovery. The agreement is expected to aid India's efforts to curb money laundering and terrorism financing, while also strengthening cross-border investigations and tax administration.

A government official at the event reportedly stated that these IPEF agreements would drive investment in clean technologies and bolster India's efforts in combating corruption and ensuring transparency in the Indo-Pacific region.

Additionally, an overarching IPEF Agreement was signed to establish a high-level ministerial oversight framework, guiding the implementation of the IPEF agreements and fostering long-term cooperation. This agreement aligns with India's Atmanirbhar Bharat vision by strengthening productive capacity, integrating supply chains, and promoting innovation.

Earlier in 2024, India had ratified the Supply Chain Resilience Agreement under Pillar-II, and with the signing of the Clean and Fair Economy agreements, the country is now fully engaged with IPEF's economic pillars, while maintaining observer status in the Trade Agreement (Pillar-I).

The Clean Economy Agreement is expected to boost investment through platforms such as the IPEF Catalytic Capital Fund, which has received an initial contribution of USD 33 million from Australia, Japan, Korea, and the USA. Additionally, the PGI Investment Accelerator has secured USD 300 million from the US International Development Finance Corporation (DFC) to support energy transition and climate investments.

India's involvement in IPEF, which was launched in May 2022, aims to promote economic cooperation and stability across 14 countries in the Indo-Pacific, with a strong focus on advancing growth and prosperity.

India has signed key agreements on the Clean Economy and Fair Economy under the Indo-Pacific Economic Framework (IPEF) on 21 September 2024, during Prime Minister Narendra Modi's visit to Delaware, USA, for the Quad Summit. The signing of these agreements is seen as a significant move towards promoting green technology, energy transition, and anti-corruption initiatives, reinforcing India's role in the economic development of the Indo-Pacific region. The Clean Economy Agreement, part of Pillar-III of IPEF, focuses on enhancing technical cooperation, workforce development, and investment in climate-friendly technologies. It also facilitates project financing and the development of joint collaborative projects, with a particular focus on MSMEs and integrating Indian companies into global value chains. The agreement includes initiatives like the IPEF Catalytic Capital Fund and the IPEF Accelerator, aimed at supporting green energy and improving climate resilience. Meanwhile, the Fair Economy Agreement, under Pillar-IV, aims to increase transparency and predictability in trade and investment within the Indo-Pacific. Its focus includes combating corruption, improving tax transparency, and supporting asset recovery. The agreement is expected to aid India's efforts to curb money laundering and terrorism financing, while also strengthening cross-border investigations and tax administration. A government official at the event reportedly stated that these IPEF agreements would drive investment in clean technologies and bolster India's efforts in combating corruption and ensuring transparency in the Indo-Pacific region. Additionally, an overarching IPEF Agreement was signed to establish a high-level ministerial oversight framework, guiding the implementation of the IPEF agreements and fostering long-term cooperation. This agreement aligns with India's Atmanirbhar Bharat vision by strengthening productive capacity, integrating supply chains, and promoting innovation. Earlier in 2024, India had ratified the Supply Chain Resilience Agreement under Pillar-II, and with the signing of the Clean and Fair Economy agreements, the country is now fully engaged with IPEF's economic pillars, while maintaining observer status in the Trade Agreement (Pillar-I). The Clean Economy Agreement is expected to boost investment through platforms such as the IPEF Catalytic Capital Fund, which has received an initial contribution of USD 33 million from Australia, Japan, Korea, and the USA. Additionally, the PGI Investment Accelerator has secured USD 300 million from the US International Development Finance Corporation (DFC) to support energy transition and climate investments. India's involvement in IPEF, which was launched in May 2022, aims to promote economic cooperation and stability across 14 countries in the Indo-Pacific, with a strong focus on advancing growth and prosperity.

Next Story
Infrastructure Transport

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Next Story
Infrastructure Urban

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Next Story
Infrastructure Urban

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement