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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.

In Tokyo while taking part in QUAD Summit meeting the Prime Minister Narendra Modi participated in a inauguration function to kick start 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.

Modi also expressed India’s commitment towards working with all countries of the region for an IPEF which is both inclusive and flexible.

He said that the foundation of resilient supply chains must be 3Ts Trust, Transparency and Timeliness.