Prime Minister Narendra Modi (left) with US President Joe Biden (centre) and Japan’s PM Fumio Kishida at the launch of IPEF in 2022
Senior officials from the commerce ministry will participate in the two-day clean economy investor forum meet in Singapore, organised by Indo-Pacific Economic Framework for Prosperity (IPEF), an official said.
Commerce Secretary Sunil Barthwal, Additional Secretary in the ministry Rajesh Agrawal, and other senior officers have reached Singapore for the meet, which will start on June 5.
“Indian projects would be pitched in the forum. Over 150 investors would participate,” the official said.
The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and it currently includes 14 partners — Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam.
It provides a platform for countries in the region to collaborate on advancing resilient, sustainable and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region.
The IPEF comprises four pillars of cooperation — Trade, Supply Chain, Clean Economy, and Fair Economy. India is not part of the trade pillar.
The IPEF Clean Economy Investor Forum is one of the initiatives under the IPEF.
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The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India, the country’s national investment promotion agency.
Apart from showcasing India’s leadership position in the Clean Economy space and the various innovative solutions driving it, India will showcase some of the large infrastructure projects in Clean Economy and top climate tech companies to the global investors for investment opportunities.
The forum will have an opportunity for the Indian industry in two tracks — climate technology and infrastructure.
Under the climate tech track, the forum would hold an open call that aims to recognise the top climate tech companies and startups among the member countries and present them to global investors.
Similarly, under the infrastructure track, India will showcase selected investible sustainable infrastructure projects at the forum.
The sectors of focus are energy transition (electric gird; renewable energy, including solar, and onshore wind; sustainable aviation fuel; battery storage; hydrogen; green data centres), transport and logistics (electric vehicle, EV charging points), waste management/waste to energy.
Indian investors who aim to invest in the IPEF partner countries in either or both the tracks were encouraged to participate in the forum.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 04 2024 | 11:38 PM IST