India and 12 countries led by the US launched the Indo-Pacific Economic Framework (IPEF) that aims to strengthen economic partnership among participating countries to enhance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region.

Prime Minister Narendra Modi sat alongside US President Joe Biden, Japanese Prime Minister Fumio Kishida and US Secretary of State Antony Blinken at the launch of the IPEF Indian media reports.

This economic initiative came a day before the summit of the Quad leaders in Tokyo — the second in-person meeting after the summit in Washington DC last September