Circular No.ES/86/2022-23 15th September 2022
To: Members of the Council
Sub: Shri Piyush Goyal takes part in the first in-person Ministerial meeting of the Indo-Pacific Economic Forum in Los Angeles
We would like to inform you that the Hon’ble Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal took part in the first in-person Ministerial Meeting of the Indo-Pacific Economic Forum in Los Angeles on 9th September, 2022. In this regard, a Press Release dated 9th September, 2022 has been issued by the Ministry of Commerce and Industry.
Shri Goyal met his counterparts from US (Trade Representative Ambassador Katherine Tai and US Commerce Secretary Gina Raimondo), Australia (Trade Minister H.E. Don Farrell), Japan (Minister for Economy, Trade and Industry Yasutoshi Nishimura) and Vietnam (Minister of Industry & Trade Nguyen Hong Dien) on the side-lines of the IPEF Ministerial in Los Angeles.
The Hon'ble Commerce & Industry Minister informed that there have been very useful engagements with 14 members of the IPEF and even, expressed hope that the IPEF members would finalize a framework within which member nations could interact on different areas of mutual interest.
Following are the highlights of the Press Release:
a) India will take decisions on different aspects of the frameworks of IPEF based on our national interest.
b) India recommits to its efforts for a free, open and inclusive Indo-Pacific.
c) India to have very contemporary and modern laws in the digital space with special focus on data privacy.
d) US to work closely with India to boost resilient supply chains and to further the goal of self-reliance.
e) New opportunities opening up for youngsters in tier 2,3 cities and remote areas of India to work to provide cost-effective tech solutions to companies.
You are requested to please take a note of the above.