The Indo-Pacific Economic Framework for Prosperity (IPEF), launched on May 23, 2023, in Tokyo, includes 14 member countries such as India, the United States, and Australia. This grouping represents 40% of global GDP and 28% of global trade. However, a report from the Global Trade Research Initiative (GTRI) indicates that the IPEF is losing relevance under former President Donald Trump's aggressive trade strategy, which emphasizes high tariffs and bilateral deals rather than cooperative frameworks. The IPEF comprises four pillars: Trade, Supply Chains, Clean Economy, and Fair Economy, with India participating in three but abstaining from the Trade pillar due to concerns over digital trade regulations. The Supply Chain Resilience Agreement, effective from February 24, 2024, aims to enhance supply chain reliability and reduce dependency on a few countries, particularly China. Despite some manufacturing moving to countries like India and Vietnam, deeper supply chain layers remain reliant on China, reflecting the challenges of replicating its established ecosystem. For India to benefit from the IPEF, it must focus on domestic reforms and improving its industrial competitiveness.