Goyal, Union minister of commerce and industry, consumer affairs, food and public distribution, and textiles, noted a consensus among members on setting up an investment forum consisting of private and public sector stakeholders to encourage investment in the clean energy sector during the recent round in Brisbane, Australia, according to a press release by the Indian ministry of commerce and industry.

The minister expressed his belief that the IPEF will promote inclusive development through enhancement of trade and investment in the region. He also shared his views on some of the common tangible benefits like capacity building; technical assistance, including sharing of expertise and best practices; investments, innovative projects, and others expected out of the initiative.

Goyal also shared in detail about some of India’s expectations under the IPEF. He stated that India can contribute towards supply chain resilience and clean technologies including on innovative projects which can be promoted beyond the IPEF in other developing countries. He further talked about the non-paper submitted by India on some of the ideas like mobilisation of financial resources for climate action at reasonable costs, added the release.

Further, the Union minister expressed his full support for the negotiations schedule agreed upon at the Brisbane meeting held recently. Secretary Raimondo welcomed India’s offer to host the special negotiation round for Pillars II-IV of the IPEF and assured that the US IPEF team would work closely with India in this regard.

Fibre2Fashion News Desk (NB)