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{{Short description|Trade agreement between India, Japan and Australia}}
'''The Supply Chain Resilience Initiative''' (SCRI) is a trilateral agreement that was launched following a [[videoconference]] between trade ministers of [[India]], [[Japan]] and [[Australia]] on 27 April 2021 during the [[COVID-19 pandemic]].<ref>{{cite web|url=https://www.dfat.gov.au/news/media-release/joint-statement-supply-chain-resilience-initiative-australian-indian-and-japanese-trade-ministers|title=Joint Statement on the Supply Chain Resilience Initiative by Australian, Indian and Japanese Trade Ministers|website=Australian Government Department of Foreign Affairs and Trade}}</ref> Vulnerabilities in the global [[supply chain]] were revealed as a piece to the puzzle in light of reliance on [[China]]. For this reason, Japan, Australia and India are seeking to reduce dependency on China. The goal of this [[Indo-Pacific]] initiative is to create a "virtuous cycle" of strong, sustainable, balanced and inclusive growth throughout the Indo-Pacific region by sharing [[best practice]]s, investment promotion and buyer-seller matching events for supply chain diversification.<ref>{{cite web|url=https://www.thehindubusinessline.com/news/national/india-japan-and-australia-launch-the-supply-chain-resilience-initiative/article34423698.ece|title=India, Japan and Australia launch the Supply Chain Resilience Initiative|website=@businessline}}</ref> The Ministers agreed to convene at least once a year to provide guidance to the implementation of the SCRI as well as to consult on how to develop the Initiative.<ref>{{cite web|date=27 April 2021|title=JOINT STATEMENT ON THE SUPPLY CHAIN|url=https://www.meti.go.jp/press/2021/04/20210427004/20210427004-1.pdf|website=Japanese Ministry of Economy, Trade and Industry}}</ref> This initiative would likely promote inward investment into Indian manufacturing by Japanese and Australian corporations to attempt a reduction of reliance on Chinese [[natural resource]]s [[export]]s. The Indian government is allegedly focusing on this initiative in light of China's military presence in Ladakh,<ref>{{Cite news|last=Raghuvanshi|first=Vivek|date=November 8, 2021|title=India readies troops for another harsh winter on border with China|work=Defense News|url=https://www.defensenews.com/global/asia-pacific/2021/11/08/india-readies-troops-for-another-harsh-winter-on-border-with-china/|access-date=December 21, 2021}}</ref> which has raised tensions between the two countries.<ref>{{Cite news|date=September 4, 2021|title=India, Japan and Australia look to each other and away from China in new supply chain initiative|work=Reuters Events|url=https://www.reutersevents.com/supplychain/supply-chain/india-japan-and-australia-look-each-other-and-away-china-new-supply-chain-initiative|access-date=December 21, 2021}}</ref> The SCRI was formed in light of India's military taking emergency measures to reinforce their border and secure their independence as a superpower. Political talks including the [[United States]] 46th [[Joe Biden|President Biden]] and the Indo-Pacific group of India, Australia and Japan are known as the Quad.<ref>{{cite web|date=27 May 2021|title=The Quad in the Indo-Pacific: What to Know|url=https://www.cfr.org/in-brief/quad-indo-pacific-what-know|access-date=21 December 2021|website=Council on Foreign Relations}}</ref> The Quad has intensified their discussions on security and ties into a formal alliance as tensions with China continue.<ref>{{Cite news|date=24 September 2021|title=For India’s Military, a Juggling Act on Two Hostile Fronts|work=New York Times|url=https://www.nytimes.com/2021/09/24/world/asia/india-military-china-pakistan.html|access-date=21 December 2021}}</ref>

China has been the top import-export destination for both Australia<ref>{{cite web|url=https://app-ant.oec.world/en/profile/country/aus/|title=Australia (AUS) Exports, Imports, and Trade Partners|website=Observatory of Economic Complexity}}</ref> and Japan,<ref>{{cite web|url=https://app-ant.oec.world/en/profile/country/jpn/|title=Japan (JPN) Exports, Imports, and Trade Partners|website=Observatory of Economic Complexity}}</ref> as well as India's top import market.<ref>{{cite web|url=https://app-ant.oec.world/en/profile/country/ind/|title=India (IND) Exports, Imports, and Trade Partners|website=Observatory of Economic Complexity}}</ref> Trade ministers of India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI) after continued virtual conferences between the three countries starting September 2020.<ref>{{cite web|date=April 28, 2021|title=India, Japan and Australia unveil supply chain initiative|url=https://www.livemint.com/news/world/india-japan-australia-launch-supply-chain-initiative-to-counter-china-11619532624451.html|access-date=December 21, 2021|website=The Mint}}</ref> These meetings developed into the initiative of the SCRI to build a "free, fair, inclusive, non-discriminatory, transparent, predictable and stable trade and investment environment and in keeping its markets open".<ref>{{cite web|title=India, Japan and Australia look to each other and away from China in new supply chain initiative|url=https://www.reutersevents.com/supplychain/supply-chain/india-japan-and-australia-look-each-other-and-away-china-new-supply-chain-initiative|website=Reuters Events}}</ref> This agreement is likely an offshoot of security talks that have intensified between these three countries since 2015 as they have all faced political and economic risks with China. The goal is to preserve regional order while balancing Chinese dominance to ensure more robust and diverse supply chains and integrate approaches to defense and security.<ref>{{cite web|url=https://mea.gov.in/incoming-visit-detail.htm?26176/Joint+Statement+on+India+and+Japan+Vision+2025+Special+Strategic+and+Global+Partnership+Working+Together+for+Peace+and+Prosperity+of+the+IndoPacific+Region+and+the+WorldDecember+12+2015|title=Joint Statement on India and Japan Vision 2025: Special Strategic and Global Partnership Working Together for Peace and Prosperity of the Indo-Pacific Region and the World(December 12, 2015)|website=mea.gov.in}}</ref><ref>{{cite web|url=https://www.japantimes.co.jp/opinion/2015/07/08/commentary/japan-commentary/security-interests-draw-japan-australia-india-closer/|title=Security interests draw Japan, Australia and India closer|first=David|last=Lang|date=July 8, 2015|website=The Japan Times}}</ref>

On 1 October 2020, the Australian Government announced a new $107.2 million Supply Chain Resilience Initiative (SCRI) to help position Australia to better respond to future crises such as COVID-19.<ref>{{cite web|date=December 12, 2021|title=Supply Chain Resilience Initiative|url=https://consult.industry.gov.au/supply-chain-resilience-initiative-survey|website=Australian Government - Department of Industry, Science, Energy & Resources}}</ref>

Japan allocated US$2.2 billion as part of its coronavirus stimulus package to encourage the return of Japanese manufacturing businesses from China to broaden supply sources and improve domestic production.<ref>{{cite web|date=June 8, 2020|title=Japan wants manufacturing back from China, but breaking up supply chains is hard to do|url=https://www.reuters.com/article/us-health-coronavirus-japan-production-a-idUSKBN23F2ZO|agency=Reuters}}</ref> This move reinforces the India and Japan Vision 2025: Special Strategic and Global Partnership Working Together for Peace and Prosperity of the Indo-Pacific Region and the World.<ref>{{cite web|date=December 12, 2015|title=Joint Statement on India and Japan Vision 2025: Special Strategic and Global Partnership Working Together for Peace and Prosperity of the Indo-Pacific Region and the World|url=https://mea.gov.in/incoming-visit-detail.htm?26176/Joint+Statement+on+India+and+Japan+Vision+2025+Special+Strategic+and+Global+Partnership+Working+Together+for+Peace+and+Prosperity+of+the+IndoPacific+Region+and+the+WorldDecember+12+2015|access-date=December 21, 2021|website=Government of India - Ministry of External Affairs}}</ref>

== References ==

{{reflist}}

[[Category:2021 treaties]]
[[Category:Treaties of India]]
[[Category:Treaties of Japan]]
[[Category:Treaties of Australia]]

The Supply Chain Resilience Initiative - Revision history

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