India, Japan, Australia keen to boost supply chain security by reducing reliance on China

India, Japan, Australia keen to boost supply chain security by reducing reliance on China

  • The Supply Chain Resilience Initiative will look to secure supply chains and reduce dependence on China in wake of the disruptions caused by the coronavirus
  • The supply chain initiative could also eventually be expanded to include the 10 members of the Association of Southeast Asian Nations (Asean

Japan, India and Australia are moving towards a new trilateral effort to ensure global supply chains and reduce dependence on China in the event of another catastrophe like the coronavirus occurring in the future.

The coronavirus outbreak has brought to the fore the importance of diversification away from trade and supply chain dependence on China for many countries, particularly key partners like Japan, India and Australia.

Japan’s Ministry of Economy, Trade and Industry broached the idea with the Indian government around a month ago and informal talks have been ongoing, according to economists with knowledge of the discussions.