External Sector

Indian Economy

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Indian Economy - Understanding the basics of Indian economic system

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With reference to Supply Chain Resilience Initiative (SCRI), consider the following statements

It is a trilateral approach to trade, mooted by United States of America with India and Japan as key-partners.
The initiative aims to attract foreign direct investment to turn the Indo-Pacific into an economic powerhouse and reduce dependency on a single nation.

Select the correct statement.

1 only

2 only

Both

None

Explanation:

Supply Chain Resilience Initiative (SCRI) is a trilateral approach to trade, mooted by Japan with India and Australia as the key-partners.
The initiative aims to reduce the dependency on a single nation (at present China).
SCRI is a direct response to individual companies and economies concerned about Chinese political behavior and the disruption that could lead to the supply chain.
The initiative, first proposed by Japan with India and Australia as partners, potentially see other Asian and Pacific Rim nations later.
SCRI aims to attract foreign direct investment to turn the Indo-Pacific into an “economic powerhouse”.

Hence only statement 2nd is correct.

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