India’s Modi Calls for Greater Supply Chain Resiliency

Indian Prime Minister Narendra Modi said August 22 that countries around the globe need to build more inclusive and resilient supply chains, implying the world needs to be less dependent on nations like China.

During the 15th Annual BRICS Summit held in Johannesburg, South Africa, August 22-24, Modi said the COVID-19 pandemic emphasized the importance and need for resilient and inclusive supply chains. He added that countries around the world should be working together for the betterment of the planet and the economy, “especially the Global South.” Modi also highlighted the ESG initiatives in India, which is looking to become a manufacturing hub for wind and solar energy, electric vehicles and fuel-grade hydrogen.

Modi said that, despite the churn in global trade, India is the world’s fastest-growing major economy, claiming it will soon be worth $5 trillion. “There is no doubt that in the coming years, India will be the world’s growth engine,” Modi said. “It is possible because India has used the difficult time to turn it into an opportunity to undertake economic reforms.”

India recently joined Australia, Japan and the U.S. in calling for resilient supply chains, which is considered a euphemism for reducing economic dependence on China, according to The Times of India.

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• Source: https://www.supplychainbrain.com/articles/37978-indian-prime-minister-calls-for-greater-supply-chain-resiliency