India participated only as observer in the just-concluded Indo-Pacific Economic Framework (IPEF) chaired by US Trade Representative (USTR) Catherine Tai. Experts believe India may not be ready yet to fully commit itself to the ongoing discussions to finalise the contours of a trade deal among the 14 IPEF members, led by the US.
New Delhi was represented by Additional Secretary in the Ministry of Commerce Rachna Shah as observer at the first virtual meeting of IPEF trade ministers on July 26.
While a joint statement was expected from the meeting, USTR only released a read-out after the meeting.
“The ministers