Synopsis
The initiative, first proposed by Japan, is now taking shape, ET has learnt. Dates are being worked out to hold the first meeting of the commerce and trade ministers of the three countries by next week.
NEW DELHI: India, Japan and Australia have begun discussions on launching a trilateral Supply Chain Resilience Initiative (SCRI) to reduce dependency on China, necessitated by Beijing’s aggressive political and military behaviour.
The initiative, first proposed by Japan, is now taking shape, ET has learnt. Dates are being worked out to hold the first meeting of the commerce and trade ministers of the three countries by next week.
Japan through its Ministry of Economy, Trade and Industry approached India recently and pressed on the urgency to take the initiative forward, according to people in the know. Tokyo was in favour of launching SCRI by November, sources said.
The government is moving on the proposal quite seriously, especially in the light of China’s aggressive moves on the Line of Actual Control in Ladakh. Usually, the sources said, New Delhi would consider any such proposal cautiously as it would be seen as an alliance against China.
This time, the government appears to have taken the call at the highest levels to become part of the global supply chain, thus emerging as an alternative to China.
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