Supply Chain Resilience Initiative (SCRI)
The Supply Chain Resilience Initiative (SCRI) was proposed by Japan as a trilateral approach to trade, with India and Australia as the other two partners.
This SCRI initiative is at the strategy stage and it is taking shape as the participating countries are expanding the scope of SCRI.
Supply chain resilience enables a country to diversify its risks across a group of supplying nations instead of being dependent on just one or a few.
Australia, Japan and India are already part of another informal grouping called the Quadrilateral Security Dialogue (Quad).
All the four countries see this as an alternate to depend on China’s imports after its aggressive policies. India is dependent on China in several segments including electronic, pharmaceuticals etc.