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With reference to the Indo-Pacific Economic Framework, consider the following statements:
1. India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.
2. Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
With reference to the Indo-Pacific Economic Framework, consider the fo...
Statement 1: India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea, and Japan, not to join the declaration on trade.
Explanation:
The Indo-Pacific Economic Framework (IPEF) is an initiative aimed at enhancing economic cooperation and connectivity in the Indo-Pacific region. It was launched by the United States, Australia, and Japan in 2021. The framework includes 14 countries, namely the United States, Australia, Japan, South Korea, New Zealand, and several Southeast Asian countries.
India's participation in the IPEF has been significant, but it did not join the declaration on trade. This means that India did not endorse the specific trade-related aspects mentioned in the declaration. The reasons for India's non-participation in the declaration could be varied, including concerns about certain provisions or the need for further internal consultations. However, it is important to note that India's decision not to join the declaration does not imply that it is not actively involved in the broader IPEF initiative.
Therefore, Statement 1 is correct.
Statement 2: Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.
Explanation:
The statement is incorrect. The Indo-Pacific Economic Framework for Prosperity (IPEF) was not launched by United States President Joe Biden. It was actually launched by the leaders of the United States, Australia, and Japan during the Quad Summit held in September 2021. The framework aims to promote economic cooperation, connectivity, and sustainable development in the Indo-Pacific region.
Therefore, Statement 2 is incorrect.
Conclusion:
Based on the explanations provided, it can be concluded that both Statement 1 and Statement 2 are correct.
Explanation:
The Indo-Pacific Economic Framework (IPEF) is an initiative aimed at enhancing economic cooperation and connectivity in the Indo-Pacific region. It was launched by the United States, Australia, and Japan in 2021. The framework includes 14 countries, namely the United States, Australia, Japan, South Korea, New Zealand, and several Southeast Asian countries.
India's participation in the IPEF has been significant, but it did not join the declaration on trade. This means that India did not endorse the specific trade-related aspects mentioned in the declaration. The reasons for India's non-participation in the declaration could be varied, including concerns about certain provisions or the need for further internal consultations. However, it is important to note that India's decision not to join the declaration does not imply that it is not actively involved in the broader IPEF initiative.
Therefore, Statement 1 is correct.
Statement 2: Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.
Explanation:
The statement is incorrect. The Indo-Pacific Economic Framework for Prosperity (IPEF) was not launched by United States President Joe Biden. It was actually launched by the leaders of the United States, Australia, and Japan during the Quad Summit held in September 2021. The framework aims to promote economic cooperation, connectivity, and sustainable development in the Indo-Pacific region.
Therefore, Statement 2 is incorrect.
Conclusion:
Based on the explanations provided, it can be concluded that both Statement 1 and Statement 2 are correct.
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Community Answer
With reference to the Indo-Pacific Economic Framework, consider the fo...
India stayed out of the joint declaration on the trade pillar of the U.S.-led Indo-Pacific Economic Framework ministerial meet in Los Angeles, with Union Commerce Minister Piyush Goyal citing concerns over possible discrimination against developing economies.
- India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.
- Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden on May 23, 2022.
- IPEF has fourteen member states: Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.
- The four themes of the proposed IPEF are:
- Fair and resilient trade
- Supply chain resilience
- Infrastructure, clean energy, and decarbonization
- Tax and anti-corruption
Hence both statements are correct.
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With reference to the Indo-Pacific Economic Framework, consider the following statements:1. India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.2. Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the Indo-Pacific Economic Framework, consider the following statements:1. India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.2. Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Indo-Pacific Economic Framework, consider the following statements:1. India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.2. Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Indo-Pacific Economic Framework, consider the following statements:1. India was the only one of the 14 IPEF countries, which include South East Asian countries, Australia, New Zealand, South Korea and Japan, not to join the declaration on trade.2. Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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