Prime Minister Narendra Modi on Sunday participated in a summit on strengthening world provide chains convened by US President Joe Biden on the sidelines of the G20 and underlined three important features of trusted supply, transparency and time frame for bettering the provision chains.
Ministry of Exterior Affairs Spokesperson Arindam Bagchi mentioned the prime minister participated within the Summit on ‘International Provide Chain Resilience’ on the sidelines of G20 and the summit mentioned methods through which governments can alleviate strain factors within the world provide chain ecosystem.
PM @narendramodi participated within the Summit on International Provide Chain Resilience, on the sidelines of G20.
— Arindam Bagchi (@MEAIndia) October 31, 2021
PM Modi underlined three important features of “trusted supply, transparency and time frame” for bettering world provide chains, he mentioned.
Whereas India is already a trusted supply within the IT and pharma provide chains, the prime minister conveyed that India is eager to take part within the clear expertise provide chain, Mr Bagchi mentioned.
America, the European Union, Australia, Canada, Democratic Republic of the Congo, Germany, Indonesia, India, Italy, Japan, Mexico, Netherlands, Republic of Korea, Singapore, Spain, and the UK met in Rome to debate near-term provide chain disruptions and paths to long-term resilience.
Safe, sustainable, and resilient world provide chains are foundational to our financial prosperity, nationwide safety, and collective pursuits, the White Home mentioned in a Chair’s Assertion on Rules for Provide Chain Resilience.
International locations expressed intent for working collectively to strengthen the resilience of the provision chains – the worldwide ecosystem of uncooked supplies, intermediate items, manufacturing, logistics, analysis and growth that ensures that the companies and customers get the merchandise they want, it mentioned.
“Safe, sustainable, and resilient provide chains require that we work in partnership, not solely as governments, however with trade, unions and staff, civil society, and worldwide organisations alike,” it mentioned.
“When the primary wave of COVID-19 rolled across the globe, it caught most companies off-guard because it disrupted provide chains on an unprecedented degree. Whether or not in responding to acute shocks of the type we’re experiencing in world commerce in the present day, or addressing the persistent long-term challenges in sectors important to our safety, extra resilient world provide chains are elementary to sustainable financial growth for all,” the assertion added.
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