India, US, 12 other IPEF members ink supply chain resilience agreement

India, the US, and 12 other members of the IPEF grouping have signed an agreement to strengthen supply chain resilience. The agreement aims to mitigate economic disruptions caused by supply chain shocks and reduce dependence on China. It includes benefits such as shifting production centers, diversifying supply chains, and supporting small and medium-sized enterprises. The agreement was signed at a ministerial meeting in San Francisco and is part of the Indo-Pacific Economic Framework For Prosperity.