I. In a sudden decision not previously intimated, India became one of a 13-nation economic initiative led by the U.S., as President Joseph Biden unveiled plans for an Indo-Pacific Economic Framework for Prosperity.
II. India’s joining is an equally strong statement of commitment to Indo-Pacific goals, and to broaden regional economic cooperation, particularly after it walked out of the 15-nation RCEP.
III. Despite the strong signalling from all sides, however, there are many aspects to the IPEF that bear further scrutiny.
IV. The four pillars also lend themselves to some confusion, drawing into question whether there is enough common ground among the 13 countries that are part of very different economic arrangements, as well as outliers, to set standards together, nor be open to issues that vary for each country.