Twelve months after the launch of the Indo-Pacific Economic Framework for Prosperity (IPEF), it
has achieved “substantial conclusion of the negotiations of a first-of-its-kind international IPEF
Supply Chain Agreement”, in one of its four Pillars. The remaining three Pillars are Trade, Clean
Economy and Fair Economy (taxation/anti-corruption). Significant progress on each of these
remaining Pillars has also been announced, raising the expectation of conclusions by the end of
this year.

This paper reflects on what the IPEF means for India. The structure of the paper is as follows: the
first part traces the principal drivers for engagement in the IPEF, both from the United States (US)
and the Indian perspectives; the second part identifies some of the key challenges for negotiation,
anticipated outcomes as well as implementation challenges for India across its four Pillars, while
dwelling deeper into the Supply Chain Pillar, which has seen substantial conclusion; the third part
is the concluding section for assessing the future evolution of the IPEF.