India launched supply chain resilience initiative in April 2021 with _______.
Australia and Japan
Understanding India's Supply Chain Resilience Initiative (SCRI)
The Supply Chain Resilience Initiative (SCRI) is a significant collaborative effort launched to create strong and reliable supply chains in the Indo-Pacific region. This initiative was particularly important given the disruptions to global supply chains experienced in recent times.
India took a leading role in establishing the SCRI. The initiative was officially launched in April 2021.
The primary objective of the SCRI is to reduce reliance on single sources for critical supplies and to diversify supply chains. This helps in minimizing risks associated with disruptions caused by various factors, such as pandemics, natural disasters, or geopolitical events. Building resilient supply chains ensures stability and continuity of economic activities.
India partnered with two other countries for the launch of this initiative. These countries were:
- Australia
- Japan
Therefore, India launched the Supply Chain Resilience Initiative (SCRI) in April 2021 with Australia and Japan, making it a trilateral framework.
Key Partners in the Supply Chain Resilience Initiative
The core partners in the SCRI are India, Australia, and Japan. This collaboration aims to achieve the following:
- Enhance supply chain resilience.
- Strengthen regional trade and investment.
- Foster mutually beneficial relationships among the partner countries.
The initiative encourages businesses in these countries to diversify their sourcing and to build redundant supply networks.
Revision Table: Supply Chain Resilience Initiative
| Aspect | Details |
|---|---|
| Initiative Name | Supply Chain Resilience Initiative (SCRI) |
| Launch Date | April 2021 |
| Partner Countries | India, Australia, Japan |
| Primary Goal | Build resilient supply chains in the Indo-Pacific |
| Framework Type | Trilateral |
Additional Information: Context of SCRI
The launch of the SCRI came at a time when the COVID-19 pandemic had severely disrupted global manufacturing and supply chains. Countries realized the need to rethink their dependence on single major manufacturing hubs and to build more diversified and secure sources for essential goods and components.
The SCRI is seen as a step towards creating a free, fair, and inclusive Indo-Pacific region through stronger economic cooperation and supply chain security.
The initiative encourages the sharing of best practices on supply chain resilience and holds potential for expanding membership in the future.
Important Questions from Agreements and MoU
In how many countries, Union Cabinet approved the opening of Indian Missions in 2021?
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India and _______ have signed a memorandum on cooperation and assistance in the Mumbai - Ahmedabad High Speed Rail Project.
Arab world's first universal museum opened in November 2017 was based on an intergovernmental agreement between _________.
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