During Prime Minister Narendra Modi’s visit to the US, India signed the Fair Economy and Clean Economy agreements negotiated under the aegis of the Indo-Pacific Economic Framework (IPEF), a US-led initiative, launched in 2022, to create a regional framework for deeper economic integration in the Indo-Pacific region. India also signed the IPEF’s overarching agreement. Apart from the US and India, the IPEF has 14 members including Australia, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam. Although one of the pillars of IPEF is trade, it is not a typical trade agreement aiming at tariff liberalisation. However, this does not mean trade is not central to the IPEF. The difference is in terms of vision. IPEF aims to boost trade, not through binding market access commitments but by using the tools of regulatory coherence and promoting linkages of trade with non-trade issues like labour.