Union Cabinet Greenlights India's IPEF Agreements

05 Sep 2024 CW Team

The Union Cabinet has given the green light for India to sign the Indo-Pacific Economic Framework for Prosperity (IPEF) agreements on a clean and fair economy. This approval comes after India had previously withheld its signature pending domestic approval.

In June, 13 IPEF members signed these agreements in Singapore, with India opting to finalize its commitment later. The agreements, which include the Clean Economy and Fair Economy frameworks, aim to boost energy security, climate resilience, and innovation while promoting anti-corruption and transparency in business practices.

The Clean Economy agreement will focus on reducing reliance on fossil fuels, fostering clean energy technologies, and enhancing technical cooperation. It will also support investments, workforce development, and research collaborations.

The Fair Economy agreement seeks to create a transparent business environment, prevent corruption, and improve tax transparency among member countries. This agreement is expected to encourage greater trade and investment in the region.

Launched on May 23, 2022, the IPEF bloc includes 14 members and represents 40% of global economic output and 28% of trade. India has committed to all IPEF pillars except the trade component. The bloc also signed a supply chain agreement in November 2023, with the Clean and Fair Economy agreements pending ratification by at least five partners.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..