Supply Chain Resilience Initiative India, Japan and Australia

COVID-19 reveals the fragility of the supply chain and the monopoly that China enjoys in the region.
Sheena

Updated: Apr 30, 2021 03:36:36 pm

30 April 2021 Current Affairs:On April 27, 2021, India, Australia and Japan officially launched the supply chain resilience plan. This initiative was launched to counter China's dominant position in the global supply chain. 

Supply Chain Resilience Initiative:
♦ It aims to prevent supply chain disruptions during the COVID-19 pandemic. The plan will mainly focus on the diversification of investment and the adoption of digital technologies.
♦ To increase foreign direct investment and ultimately make the Indo-Pacific region an "economic power." Build positive relationships between partner countries. It was built on the existing supply chain network.
♦ Japan proposed it, and its primary purpose is to reduce dependence on China. By the data from the Federation of Indian Industries (CII), China's share of imports from India is 14.5%. 
♦ China's imported goods occupy a leading position in electronics, medicine, auto parts, chemicals, shipping and textiles. In terms of electronic products alone, China accounts for 45% of India’s imports.
♦ During COVID-19, all these industries have been severely affected because India is heavily dependent on China for raw materials, especially in the electronics and pharmaceutical sectors.
♦ COVID-19 reveals the fragility of the supply chain and the monopoly that China enjoys in the region.
♦ Chinese actions: China recently launched an initiative with its Asian neighbours Nepal, Pakistan, Afghanistan, Sri Lanka and Bangladesh to help them build COVID-19 emergency supplies. In addition, China's Sichuan Airlines recently suspended cargo flights to India, which are currently delivering oxygen concentrators to India. Even during the COVID-19 pandemic, China's belligerent attitude (aggressive war, such as behaviour) forced these countries to take the initiative.
 
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