Indian Prime Minister Narendra Modi's Visit to the US and the Indo-Pacific Economic Framework (IPEF)

the Clean Economy Agreement, the Fair Economy Agreement, and the overarching IPEF Agreement.

The Clean Economy Agreement aims to promote technical cooperation, workforce development, and research collaborations in clean energy and climate-friendly technologies. It also seeks to accelerate efforts towards energy security, climate resilience, and greenhouse gas emissions mitigation.

The Fair Economy Agreement aims to create a more transparent and predictable trade and investment environment across the Indo-Pacific region. It will also enhance efforts to prevent and combat corruption, including bribery, and support initiatives to improve tax transparency and administration.

The overarching IPEF Agreement establishes a high-level political oversight framework for the various individual IPEF agreements. It also provides a forum for Ministerial discussions on emerging issues and sets general guidance and goals for the IPEF partnership.

These agreements are expected to facilitate India's productive capacity, integration into supply chains, and promotion of innovation, in line with the concept of Atmanirbhar Bharat (self-reliant India). The Union Cabinet had earlier approved the signing and ratification of these agreements, which were signed by other IPEF members on June 6, 2024.