India on Monday expressed its commitment to a free, open and inclusive Indo-Pacific region and pitched for deepening of economic engagement among partners with a view to achieve the goal of continued growth, peace and prosperity, an official statement said. Prime Minister Narendra Modi participated in an event here at the launch of discussions for an Indo-Pacific Economic Framework for Prosperity (IPEF).
Speaking at the launch ceremony, he said the announcement of IPEF is a declaration of a collective desire to make the Indo-Pacific region an engine of global economic growth.
India has historically been at the centre of trade flows in the Indo-Pacific region, having the world's oldest commercial port in Lothal, Gujarat.
The prime minister underlined the need for finding a common and creative solutions to tackle economic challenges of the Indo-Pacific region. He also expressed India's commitment towards working with all countries of the region for an IPEF which is both inclusive and flexible.
Modi said that the foundation of resilient supply chains must be 3Ts Trust, Transparency and Timeliness. "India is committed to a free, open, and inclusive Indo-Pacific region and believes that deepening economic engagement among partners is crucial for continued growth, peace and prosperity," the statement said.
"India is keen to collaborate with partner countries under the IPEF and work towards advancing regional economic connectivity, integration and boosting trade and investment within the region," it added.
With the launch of the process to establish the IPEF, partner countries will begin discussions focusing on strengthening economic cooperation and achieving shared goals.
The statement further said India is keen to collaborate with partner countries under the IPEF and work towards advancing regional economic connectivity, integration and boosting trade and investment within the region. The IPEF seeks to strengthen economic partnership amongst participating countries with the objective of enhancing resilience, sustainability, inclusiveness, economic growth, fairness and competitiveness in the Indo-Pacific region.
US President Joseph R Biden and Japanese Prime Minister Kishida Fumio were also present on the occasion. The event also saw virtual presence of leaders of partner countries -- Australia, Brunei, Indonesia, Republic of Korea, Malaysia, New Zealand, The Philippines, Singapore, Thailand and Vietnam.
Prime Minister Narendra Modi also addressed the Indian community here on the first day of his two-day visit to Tokyo, where he said that India's relationship with Japan is of spirituality, of cooperation and of belonging. India and Japan are "natural partners" and Japanese investments have played an important role in India's development journey, Modi said on Monday.
"India and Japan are natural partners. Japan has played an important role in India's development journey," said Modi.
"Today's world needs to follow the path shown by Lord Buddha. This is the way to save humanity from the challenges facing the world today, be it violence, anarchy, terrorism and climate change," Modi said.
Noting that India has always found a solution no matter how big the problem is, Modi said that during coronavirus pandemic, there was an atmosphere of uncertainty, but even in that situation, India supplied 'Made in India' vaccines to crores of its citizens and also sent it to more than 100 countries.
"Whenever I visit Japan, I witness your affection. Many of you have settled in Japan for years and assimilated the Japanese culture. Still, the dedication toward Indian culture and language is ever-growing," Modi told the Indian diaspora amid chats of slogans 'Bharat Mata Ki Jai'.
Prime Minister Modi is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida. He will also hold separate bilateral meetings with the Quad leaders on the sidelines of the summit.