Govt Plans to designate rare earth, pharma & IT as critical sectors
India is considering designating rare earth minerals, electronics, and pharmaceuticals as critical sectors to safeguard them against potential disruptions in the supply chain. This move precedes the entry into force of the Supply Chain Resilience Agreement of the Indo-Pacific Economic Framework (IPEF), which includes 14 member countries, on February 24, 2024. The agreement requires member countries to identify critical sectors and key goods for cooperation within 120 days of its entry into force.