New Delhi: Prime Minister Narendra Modi on Sunday evening departed for Tokyo, Japan, to attend the Quad Summit at the request of Japanese Prime Minister Fumio Kishida. PM Modi stated on Sunday, ahead of his scheduled travel to Japan, that during the Quad summit, leaders would once again have the chance to address numerous projects and topics of mutual interest, news agency ANI reported.
“I will hold a bilateral meeting with President Joseph Biden, where we will discuss further consolidation of our multi-faceted bilateral relations with USA. We will also continue our dialogue on regional developments and contemporary global issues,” PM Modi said.
— PMO India (@PMOIndia) May 22, 2022
Prime Minister Narendra Modi will attend a launch ceremony in Tokyo on Monday for the ambitious Indo-Pacific Economic Framework for Prosperity (IPEF), an effort aiming at closer collaboration among like-minded countries in sectors such as sustainable energy, supply-chain resilience, and digital commerce, news agency PTI reported.
Separate meetings of PM Modi are also planned for Monday with NEC Corporation chairman Nobuhiro Endo, Uniqlo president Tadashi Yanai, Suzuki Motor Corporation adviser Osamu Suzuki, and Softbank Group Corporation board director Masayoshi Son.
On the first day of his visit to Tokyo, Modi will also meet with Japanese business leaders and connect with the Indian community.
Biden’s announcement of the IPEF is intended to send a signal that the US is committed to advancing a robust economic policy for the Indo-Pacific to challenge China’s aggressive trade strategy in the area.
External Affairs Ministry Spokesperson Arindam Bagchi during a press conference on Thursday stated that India has received the IPEF’s data.
“We have received details of this. And we are examining it. At this point, that’s all I have to say. I would not be in a position to prejudge what might happen in Tokyo or in future, but as I said, we are looking into the initiative,” he was quoted by PTI in its report.
A number of nations, including India, Australia, New Zealand, South Korea, Japan, Singapore, and the Philippines, are expected to join the IPEF.
The IPEF, according to US National Security Advisor Jake Sullivan, is intended to promote “high-standard approaches” to the digital economy, the renewable energy transition, diversified and resilient supply chains, and open and transparent economic governance.
He further stressed to the media that the IPEF is not a security arrangement.
“No, it’s not it’s not a security arrangement. It is an economic arrangement focused around the further integration of Indo-Pacific economies, setting of standards and rules, particularly in new areas like the digital economy, and also trying to ensure that there are secure and resilient supply chains,” Sullivan said.
The prime minister will also meet separately with Japanese Prime Minister Fumio Kishida and freshly elected Australian Prime Minister Anthony Albanese.
(With Agencies Inputs)