India’s Growing Economic Partnership in the Quad-June 2023

This Report focuses on India’s growing role in the Quadrilateral Security Dialogue (QUAD). Comprised of the United States, India, Japan, and Australia, the QUAD has evolved into an active institutional mechanism in the aftermath of the COVID crisis and ongoing supply chain disruptions due to geopolitical developments. India may leverage its G-20 leadership role to expand the scope of cooperation among the QUAD member states. While the QUAD mechanism does not provide for a trade agreement at this point, it has tremendous potential for economic partnership among its member countries, who currently constitute 34% of global nominal GDP. The QUAD can provide a platform to its member states to align on a wide range of trade and investment issues, which can eventually become the foundation for a regional free trade agreement in future.

This Report discusses QUAD progression and its significance in the Indo-Pacific region, India’s growing trade and investment relations with the QUAD partner countries, and the way forward for making the QUAD a pragmatic economic institution.