The substantial progress made on a supply chain agreement at the recent meeting of trade ministers of the Indo-Pacific Economic Framework for Prosperity (IPEF) could lead to a shift in production centres of key goods and critical sectors to India, a statement by the commerce & industry ministry said on Thursday. “The agreement will also lead to deeper integration of India in the global supply and value chains, especially Indian MSMEs,” It said. At the meeting in Detroit, the trade ministers of the 14-member bloc on May 27 had made substantial progress on a supply chain agreement. Other benefits that will accrue to India by being a party to the agreement on supply chains is upward mobility in value chains; mitigation of risks of economic disruptions to India from supply chain shocks and creation of a seamless regional trade ecosystem.