India, the U.S. and 12 other members of the Indo-Pacific Economic Framework For Prosperity (IPEF) grouping have signed a supply chain resilience agreement that would provide benefits such as potential shifting of production centres in critical sectors and mitigating risks of economic disruptions from supply chain shocks.
The agreement was signed in San Francisco, where Commerce and Industry Minister Piyush Goyal is attending the Ministerial meeting of the IPEF. The agreement would help member countries, including India, to reduce its dependence on China.
