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Prime Minister Narendra Modi (left) with US President Joe Biden (centre) and Japan’s PM Fumio Kishida at the launch of IPEF in 2022
The 14-member Indo-Pacific Economic Framework for Prosperity (IPEF) is set to host its first clean economy investor forum in Singapore on June 5-6, the department of commerce said on Tuesday.
The department has invited applications from domestic climate and tech entrepreneurs for participation in the meeting.
“The top 100 companies will be announced in early May and those shortlisted will be invited to pitch at the investor forum,” an official statement said.
India will also showcase selected ‘investible sustainable infrastructure projects’ at the forum, with focus on energy transition, sustainable aviation fuel, battery storage hydrogen, green data centres, transport and electric vehicle, EV charging points, and waste management, among others.
“The projects that are ready, or expected to be ready for private investment during the next 18 months, will be given priority,” it said.
“Apart from showcasing India’s leadership position in the clean economy space and the various innovative solutions driving it, India will hard-sell some of the large infrastructure projects in clean economy and top climate tech companies to the global investors for investment opportunities,” the department said.
An initiative under the IPEF’s clean economy agreement, the inaugural forum aims to bring together the region’s largest investors, innovative startup entrepreneurs, and cutting-edge project proponents with IPEF ministers and government agencies to boost investment.
“The forum aims to mobilise investments into sustainable infrastructure, climate technology, and renewable energy projects,” it said.
Members of the IPEF, launched nearly two years ago, include India, the US, Australia, Brunei Darussalam, Fiji, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
IPEF has four pillars — trade, supply chain resilience, clean economy, and fair economy (tax and anti-corruption). Negotiations on the clean economy agreement were substantially concluded in November.
First Published: Apr 09 2024 | 8:46 PM IST
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