Supply Chain Resilience Initiative (SCRI)
Part of: GS Prelims and GS – II – International Relations
- 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.
- 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.