Indian Defense
Biden Announces Progress On Indo-Pacific Economic Framework With 13 APEC Partners Including India
US President Biden addresses the Indo-Pacific Economic Framework, Piyush Goyal is also seen
San Francisco: In a significant development at the Indo-Pacific Economic Framework (IPEF), US President Joe Biden announced advancements in the crucial initiative proposed by the United States and supported by 13 APEC partners.
The Indo-Pacific Economic Framework involves Australia, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam, and the United States.
India’s representative Commerce and Industry Minister Piyush Goyal was also present on the stage as Biden delivered his address.
“Today we’re announcing progress on the important initiative that we proposed with 13 of my colleagues here and of 13 APEC partners, the Indo-Pacific Economic Framework. Australia, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam and the United States,” said Biden at the Indo-Pacific Economic Framework Family Photo.
The negotiations on this framework were launched in Tokyo in May 2022, with substantial progress made, although further work remains to be done.
“In May of 2022, we came together in Tokyo to launch negotiations on this framework. We still have more work to do, but we’ve made substantial progress,” President Biden added.
He also highlighted a three-hour meeting with all 21 APEC economies, emphasising discussions on generating growth and opportunities in the region, particularly addressing climate change.
“A three-hour meeting with all 21 APEC economies, discussing how to generate more growth and more opportunity in the region, particularly to deal with climate change,” Biden said.
Earlier in the day also, Biden reaffirmed the United States’ “commitment to strengthen” the semiconductor supply chain, with a special emphasis on collaborative efforts with key nations, including India.
President Biden also underscored the importance of working together with India, Japan, the Republic of Korea, and Singapore to strengthen the critical semiconductor industry.
India, specifically mentioned by President Biden, is set to play a pivotal role in this global initiative. The strengthened partnership between the United States and India in the semiconductor domain not only signifies the mutual commitment to technological advancement but also underscores the strategic importance of India as a key player in the global technology landscape.
The United States is committed to an Indo-Pacific that is free and open, connected, prosperous, secure, and resilient. To help realize that future, the Partnership for Global Infrastructure and Investment (PGI) and Indo-Pacific Economic Framework for Prosperity (IPEF), will work with IPEF partners and the private sector to scale high-standard investments, create more resilient economies, and drive long-term sustainable development, a White House Factsheet stated.
US Secretary of Commerce Gina Raimondo and Senior Advisor to the President Amos Hochstein hosted the PGI IPEF Investment Forum to discuss collaborative actions and shared priorities to increase private investment in the Indo-Pacific.
The US International Development Finance Corporation (DFC) and Government of India are continuing to partner toward a combined up to USD 1 billion investment in the India Green Transition Fund. This private credit Fund will target market-based returns, provide climate impact benefits, and accelerate the development of clean-energy transition projects in India through investments in solar, energy storage, and e-mobility.
Citi helped facilitate nearly USD 12 billion worth of transactions around the world, advancing sustainability and the clean energy transition, including the Monetary Authority of Singapore’s green bond, LG Energy Solution’s global green bond, Malaysian energy company Petronas’ India-based green ammonia venture, LG Energy Solution’s new electric vehicle (EV) battery manufacturing facility in Arizona, and General Motors & Samsung SDI’s new EV battery cell plant in Indiana.
Citi also provided a USD 100 million trade loan to ICICI Bank, supporting on-lending to low-income women micro-entrepreneurs primarily in rural India.
Notably, leaders of the 21-member Asia-Pacific Economic Cooperation Forum are meeting in San Francisco for the 30th APEC Leadership Summit being hosted by the US and chaired by President Biden.
APEC members account for 62 per cent of the global GDP and almost half of global trade. Its members are Australia, Brunei, Canada, Indonesia, Japan, S Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, US, Taiwan, Hong Kong, China, Mexico, Papua New Guinea, Chile, Peru, Russia and Vietnam. India, a major economy, is not part of APEC.
President Biden had invited Prime Minister Narendra Modi to attend this year’s APEC Leadership Summit. India is being represented by its Commerce and Industry Minister, Piyush Goyal.
The solid-fuelled K-4 missile is being developed by DRDO to arm the country’s nuclear-powered submarines in the shape of INS Arihant and its under-development sister vessels. INS Arihant, which became fully operational in November 2018 to complete India’s nuclear triad, is currently armed with the much shorter K-15 missiles with a 750 km range.
“The K-4 is now virtually ready for its serial production to kick-off. The two tests have demonstrated its capability to emerge straight from underwater and undertake its parabolic trajectory,” said a source.
India has the land-based Agni missiles, with the over 5,000-km Agni-V inter-continental ballistic missile now in the process of being inducted, and fighter jets jury-rigged to deliver nuclear weapons. But INS Arihant gives the country’s deterrence posture much more credibility because nuclear-powered submarines armed with nuclear-tipped missiles are considered the most secure, survivable and potent platforms for retaliatory strikes.
Once the K-4 missiles are inducted, they will help India narrow the gap with countries like the US, Russia and China, which have over 5,000-km range SLBMs. The K-4 missiles are to be followed by the K-5 and K-6 missiles in the 5,000-6,000 km range class.
The 6,000-ton INS Arihant, which is propelled by an 83 MW pressurised light-water reactor at its core, in turn, is to be followed by INS Arighat, which was launched in 2017. The next generation of nuclear submarines, currently called S-4 and S-4*, will be much larger in size.
India has received clearance to upgrade 84 Sukhoi Su-30MKI fighter jets, which will result in 78% indigenization after the upgrade
In a significant step towards bolstering its military might with indigenously developed technology, India is poised to witness its Russian-origin Sukhoi Su-30MKI fighter jets evolve into a domestic platform. Speaking at a recent lecture.
The upgrade program is being led by Hindustan Aeronautics Limited (HAL) in partnership with the Indian Air Force and other partners. The upgrade is expected to cost US$7.5 billion.
This initiative is a part of a larger effort by the Indian Air Force to modernize its ageing fleet. Air Chief Marshal Chaudhari asserted the critical role of an offensive air force as demonstrated in current global conflicts and emphasized India’s move towards an indigenized arsenal. To this end, the IAF has been proactive, from upgrading its Mirage 2000 to enhancing its MiG-29 fleet.
In summary, the IAF’s commitment to updating their combat forces with the latest technology, including shifting to fifth-generation fighter jets, ensures operational preparedness and a strong deterrence capability. The gradual indigenization of its air fleet marks a pivotal shift in India’s defence landscape, reducing dependency on foreign imports and fostering technological sovereignty.
According to unconfirmed reports, Armenia is a top contender for an export order for Akash SAM system manufactured by Bharat Dynamics Limited (BDL).
The Akash export version will also be slightly different from the one inducted by the armed forces. The 100-km range air-to-air Astra missiles, now entering production after successful trials from Sukhoi-30MKI fighters, also have “good export potential”, said sources.
Akash is a “tried, tested and successfully inducted systems”. Indian armed forces have ordered Akash systems worth Rs 24,000 crore over the years, and MoD inked a contract in Mar 2023 of over Rs 9,100 crores for improved Akash Weapon System
BDL is a government enterprise under the Ministry of Defence that was established in 1970. BDL manufactures surface-to-air missiles and delivers them to the Indian Army. BDL also offers its products for export.
Akash Weapon System
The AWS is a Short Range Surface to Air Missile (SRSAM) Air Defence System, indigenously designed and developed by Defence Research and Development Organisation (DRDO). In order to meet aerial threats, two additional Regiments of AWS with Upgradation are being procured for Indian Army for the Northern borders. Improved AWS has Seeker Technology, Reduced Foot Print, 360° Engagement Capability and improved environmental parameters.
The project will give a boost to the Indian missile manufacturing industry in particular and the indigenous defence manufacturing ecosystem as a whole. The project has overall indigenous content of 82% which will be increased to 93% by 2026-27.
The induction of the improved AWS into the Indian Army will increase India’s self-reliance in Short Range Missile capability. This project will play a role in boosting the overall economy by avoiding outgo of precious foreign exchange to other countries, increasing employment avenues in India and encouraging Indian MSMEs through components manufacturing. Around 60% of the project cost will be awarded to the private industry, including MSMEs, in maintaining the supply chain of the weapon system, thereby creating large scale of direct and indirect employment.
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