India Will Become An Alternative To China In Indo-Pacific Trade

India will become an alternative to China in the trade in the Indo-Pacific, Beijing is also not included in IPEF.

Countries with a 40 percent share of global GDP are now looking at India as an alternative to China, from supply chain to clean trade.

The Indo-Pacific Economic Framework (IPEF) ministerial meeting is going to be held in the US next week.

The discussions will be held to build a supply chain and future economic framework in which China’s role is negligible.

The IPEF was formed with the aim of creating an alternative in view of the supply chain problems and the commercially dominant attitude of China during the Corona period.

According to economic experts, now China plus one (one other than China) is talked about in the discussion related to the establishment of manufacturing and supply chains all over the world.

That is, China cannot be completely sidelined, but alternatives have to be prepared and then there can be the talk of leaving China.

China has not been included in the IPEF for the same purpose.

China’s share in global trade, both in terms of imports and exports, is more than 12 percent, so dependence on China will continue.

But all the developed countries are now openly expressing their intention to reduce this dependency.

13 countries are members of IPEF along with major economies like the USA, Australia, Japan, South Korea, and Singapore.

All these countries are seeing the potential in India to become an alternative to China.

Then, during the free trade agreement with Australia, the then Trade Minister Tehan, pointing to China, said that they would not allow any one country to run arbitrarily in the Indo-Pacific.

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Japan and South Korea are also looking at India as an alternative to China for the supply chain.

Foxconn and Wistron, which made phones in China for the American company Apple, have now gradually started working towards making India a major center of Apple phone manufacturing instead of China.

According to an official of the Ministry of Electronics and IT, India seems to be getting the benefit of the tension going on in the US and China regarding Taiwan.

Companies operating in China will no longer want to go to Vietnam because Vietnam has a border of its own.

Recently a group of 25 companies from the electronics sector had come with the intention of investing in India.

Ministers of IPEF member countries will discuss four major topics in the US next week, mainly on trade and digital trade, supply chain, clean economy, and establishment of a fair economy.

According to the Ministry of Commerce, India is ready for open and open economic participation in the Indo-Pacific.

According to experts, in view of India’s open and fair trade practices, developed countries want to enter into a free trade agreement with India.

According to experts, India’s share in global trade is still around two percent, but in the world of digital business, India is beating developed countries.

At the same time, by announcing production-linked incentives in 15 sectors related to manufacturing, India has made it clear that it wants to be a part of the global supply chain.

India is continuously increasing its dependence on clean energy to establish a clean economy.