Proposal of Supply Chain Resilience Initiative

  • IASbaba
  • September 5, 2020
  • 0
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Proposal of Supply Chain Resilience Initiative

Part of: GS Prelims and GS-III- Supply chain management

In news

  • Covid-19 and trade tensions between China and the USA are threatening supply chains.
  • Thus, Japan has mooted the Supply Chain Resilience Initiative (SCRI) as a trilateral approach to trade, with India and Australia as the key-partners.

Important value additions

Supply Chain Resilience Initiative (SCRI)

  • The initiative aims to reduce the dependency on a single nation (at present China).
  • SCRI is a direct response to individual companies and economies concerned about Chinese political behaviour and the supply chain disruption.
  • The initiative also potentially sees other Asian and Pacific Rim nations later.
  • Objective:
  • To attract foreign direct investment to turn the Indo-Pacific into an “economic powerhouse”.
  • To build a mutually complementary relationship among partner countries.
  • To work out a plan to build on the existential supply chain network. 

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