Published: 3rd May, 2021
In a move to counter China’s dominance of supply chain in the Indo-Pacific region, trade ministers of India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI).
Context
In a move to counter China’s dominance of supply chain in the Indo-Pacific region, trade ministers of India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI).
About
What is SCRI?
- The Supply Chain Resilience Initiative is a trilateral push to create a free and transparent trade and investment environment.
- The initiative was launched after high-level consultations since September last year, among the three countries.
- Focus area: Initially, SCRI will focus on sharing best practices on supply chain resilience and holding investment promotion events and buyer-seller matching events to provide opportunities for stakeholders to explore the possibility of diversification of their supply chains.
- Aim: The SCRI aims to create a virtuous cycle of enhancing supply chain resilience with a view to eventually attaining strong, sustainable, balanced and inclusive growth in the region.
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The Indo-Pacific region
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