Japan has proposed to launch a trilateral (Supply Chain Resilience SCRI) Initiative with India and Australia to counter the ambitions of China. The commerce ministers are meeting next week for the same while Japan wants to launch it by November 2020.
“India, Japan and Australia have begun discussions on launching a trilateral SCRI to reduce dependency on China, necessitated by Beijing’s aggressive political and military behaviour,” reported The Economic Times.
The two-fold objective of the Japanese proposal is to attract foreign direct investment to turn the Indo-Pacific into an economic powerhouse and to build a mutually complementary relationship among partner countries. The idea is to also throw open the initiative to the Asean (Association of Southeast Asian Nations) after India-Japan-Australia understanding on the matter.