Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal, participated in the G7 Trade Ministers Meeting in Osaka, Japan 28-10-2023.

• Shri Goyal made an important intervention on the topic of Enhancing Supply Chain Resilience and gave several suggestions on the issue.
• He mentioned that the Covid 19 pandemic and the geo-political events highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global inflation.
• The Minister encouraged Public-Private partnership, investment in critical infrastructure and the need for innovation and digitalistion of the supply chains. Shri Goyal highlighted the need for supply chain diversification and skilling and re-skilling of the personnel.
• He urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade. He also recalled the Generic Framework for Mapping of GVCs mentioned in the New Delhi Declaration of the G20.