India is learnt to have asked for better market access in order to be a part of the trade pillar of the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-nation trade bloc, officials said. Renewed deliberations within the Union Commerce Ministry are learnt to be centred on whether New Delhi should first take a commitment on joining even if there is lack of clarity about specific gains or join now instead as 13 countries are already negotiating the nitty gritties and if India were to accede later, it could be at a disadvantage at having missed out on the negotiations.
As of now, market access has not been agreed upon for India, which is being seen as a crucial factor to join the trade pillar (Pillar-I), the official said. India has an observer status on the trade pillar negotiations.
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