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.
