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Supply Chain Resilience Initiative (SCRI)

  • IASbaba
  • April 29, 2021
  • 0
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Supply Chain Resilience Initiative (SCRI)

Part of: GS Prelims and GS – II – International Relations 

In news

  • India, Japan and Australia 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.

Key takeaways 

  • Aim: 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.
  • Some of the joint measures shall include: (1) Supporting the enhanced utilisation of digital technology; (2) Trade and investment diversification
  • It will also focus on sharing best practices on supply chain resilience, holding investment promotion events, buyer-seller matching events to provide opportunities for stakeholders to explore the possibility of diversification of their supply chains.
  • Expansion of the SCRI may be considered based on consensus, if needed, in due course.

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