India, Japan, Australia to launch Supply Chain Resilience Initiative(SCRI)

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News: India, Japan and Australia have begun discussions on launching a trilateral Supply Chain Resilience Initiative(SCRI) to reduce the dependency on China.

Facts:

  • SCRI: The aim of the initiative is to attract foreign direct investment to turn the Indo-Pacific region into an economic powerhouse and to build mutually complementary relationships among partner countries.
  • Significance:. The initiative is a direct response to companies that are concerned about Chinese political behaviour and disruption to the supply chain.