India Elected Vice-Chair of IPEF Supply Chain Council

GG News Bureau
New Delhi, 31st July. India has been elected as the Vice-Chair of the Supply Chain Council (SCC) under the Indo-Pacific Economic Framework for Prosperity (IPEF). This appointment underscores India’s pivotal role in enhancing supply chain resilience within the Indo-Pacific region.

The IPEF partners, including India, recently convened for the inaugural virtual meetings of three key bodies: the Supply Chain Council, Crisis Response Network (CRN), and Labor Rights Advisory Board (LRAB). These meetings represent a significant step in bolstering regional cooperation and addressing supply chain disruptions that impact economic prosperity and labor rights.

Union Minister for Commerce and Industry, Piyush Goyal, had signed the IPEF Supply Chain Resilience Agreement in November 2023 in Washington D.C., with the agreement coming into force in February 2024. The framework aims to enhance the resilience, robustness, and integration of supply chains across the Indo-Pacific, contributing to regional economic development.

Secretary of the Department of Commerce, Sunil Barthwal, highlighted India’s aspirations to be a major player in the global supply chain during the IPEF Ministerial meeting in June 2024. India’s extensive production capacities and proactive government initiatives are seen as critical in supporting the framework’s goals.

The newly established bodies under the IPEF are:

• Supply Chain Council: USA (Chair) and India (Vice Chair)
• Crisis Response Network: Republic of Korea (Chair) and Japan (Vice Chair)
• Labor Rights Advisory Board: USA (Chair) and Fiji (Vice Chair)

These bodies will focus on various aspects of supply chain management, including national security, public health, crisis response, and labor rights. The Supply Chain Council will convene its first in-person meeting in Washington D.C. in September 2024, alongside the Supply Chain Summit.

The IPEF, launched in May 2022, consists of 14 member countries, including India. It is designed to strengthen economic engagement and cooperation, focusing on trade, supply chain resilience, clean economy, and fair economy. India is actively engaged in Pillars II to IV and observes Pillar I.