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‘Supply Chain Resilience Initiative (SCRI)’

Published on April 29, 2021
Current Context: India, Japan and Australia formally launched the ‘Supply Chain Resilience Initiative (SCRI) in a virtual manner.
‘Supply Chain Resilience Initiative (SCRI)’
  • The SCRI was launched to counter China’s dominance of the supply chain in the Indo-Pacific region.
  • The initiative was launched by trade ministers of three nations.
  • The meeting for the same was attended by India’s trade minister Piyush Goyal, Australia’s minister for trade, tourism and investment Dan Tehan and Japan’s minister of economy, trade and industry Kajiyama Hiroshi.
  • The initiative will help to create a virtuous cycle to enhance supply chain resilience to gain strong, sustainable, balanced and inclusive growth in the regions.
  • The SCRI will develop a resilient supply chain with its major focus on free, transparent trading activities and investment safe environment in the Indo-Pacific region.
  • The initiative will work to share best practices for supply chain resilience, conducting promotional events of investments for stakeholders and grant them a vast platform.
  • All the three nations assured to adopt policy measures that will support increase usage of digital technology in trading activities and will promote trade and investments on a large scale.
  • The dignitaries also assured to conduct meeting once in year to review the SCRI implementations.
  • Static Part: 
    • Capital of Japan: Tokyo
    • Currency of Japan: Japanese Yen
    • Capital of Australia: Canberra
    • Currency of Australia: Dollar

Question: 

Q.1 Which nation/nations launched ‘Supply Chain Resilience Initiative (SCRI)?
a. India
b. Japan
c. Australia
d. All of the above
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