India, Japan, Australia agree to launch a resilient supply chain initiative in the Indo-Pacific region

Australia-India-Japan Economic Ministers’ Joint Statement on Supply Chain Resilience was held on 1st September. The virtual meeting comprised of India’s Minister of Commerce and Industry Piyush Goyal, Australia’s Minister for Trade, Tourism and Investment, Senator Simon, and Japan’s Minister of Economy, Trade, and Industry, Kajiyama Hiroshi.
India-Japan-Australia has agreed to launch an initiative to build a resilient supply chain in the Indo-Pacific region.
The aim is to create a free and transparent trade & investment environment.
The Ministers reaffirmed their agreement to take a lead in delivering a free, fair, transparent, inclusive, non-discriminatory, predictable, and stable trade and investment environment and in keeping their markets open.
During the meeting, the Ministers shared their intention to work toward the launch of a new initiative to achieve the objective through cooperation.
GoI had taken the call at the highest levels to become part of the global supply chain and is emerging as an alternative to China.