India, Japan, Australia launch supply chain resilience initiative, may be expanded based on consensus
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It seeks to build upon the existing bilateral frameworks like the Asean-Japan Economic Resilience Action Plan and India-Japan Industrial Competitiveness Partnership and attract foreign direct investment in the region.
Agencies
Noting the importance of risk management and continuity plans in order to avoid supply chain disruptions, the trio said that possible policy measures may include supporting the enhanced utilization of digital technology, and trade and investment diversification.
India, Japan and Australia on Tuesday formally launched the Supply Chain Resilience Initiative (SCRI) to build resilient supply chains in the Indo-Pacific region as they seek to reduce dependence on China, and said it could be expanded based on consensus. Commerce and industry minister Piyush Goyal, Australia’s minister for trade, tourism and investment Dan Tehan
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