In May 2022, the Indo-Pacific Economic Framework for Prosperity (IPEF) was unveiled, boasting 14 partner nations including Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam. The primary objective of the IPEF is to foster collaborative efforts among regional countries towards achieving resilient, sustainable, and inclusive economic growth, ultimately contributing to cooperation, stability, and prosperity in the Indo-Pacific region. To accomplish this goal, the IPEF operates on four pillars of cooperation: Trade, Supply Chain, Clean Economy, and Fair Economy.
A key initiative under the IPEF umbrella is the Clean Economy Investor Forum, which serves as a platform for top investors, financial institutions, innovative companies, and entrepreneurs across the region. The forum’s primary aim is to mobilize investments into sustainable infrastructure, climate technology, and renewable energy projects. More information about this initiative can be found at www.IPEFinvestorforum.org.
The Department of Commerce is spearheading the IPEF engagements, with the IPEF Clean Economy Investor Forum being managed by Invest India, India’s National Investment Promotion Agency.
In addition to highlighting India’s leadership in the Clean Economy sector and showcasing innovative solutions, India will also present several large-scale infrastructure projects and top climate tech companies to global investors, offering lucrative investment opportunities.
The forum offers two distinct tracks for Indian industry participants:
- Climate Tech Track: This track invites climate tech companies and startups from member countries to apply for recognition as top performers. Applications are open until April 26, 2024, and will be evaluated by regional and industry experts. The top 100 companies will be announced in early May 2024, with shortlisted companies invited to showcase and pitch at the Investor Forum in Singapore on June 5th-6th, 2024. Interested parties can find eligibility criteria and application details at https://www.holoniq.com/ratings/indo-pacific-climate-tech-100.
- Infrastructure Track: This track focuses on showcasing selected sustainable infrastructure projects that are ready or expected to be ready for private investment within the next 18 months. Priority sectors include energy transition (e.g., renewable energy, electric grid, hydrogen), transport and logistics (e.g., electric vehicles, EV charging points), and waste management. Indian investors interested in investing in IPEF partner countries are encouraged to participate in both tracks.
Interested project proponents and investors can reach out to india-ipef@commerce.gov.in and IPEFInvestorForum@investindia.org.in for further details and participation.