The 3T’s mantra of PM Modi
Prime Minister Narendra Modi highlighted three critical aspects ‘3Ts — Trusted Source, Transparency and Time frame for improving global supply chains at the Summit on Global Supply Chain Resilience’ on the sidelines of the G20 Summit in Rome.
The Summit on ‘Global Supply Chain Resilience’ was convened by US President Joe Biden to discuss the ways in which governments can alleviate pressure points in the global supply chain ecosystem.
PM Modi recalled the initial months of the COVID-19 pandemic when all countries faced a paucity of medicines, health equipment, and raw materials for preparing vaccines.
He said, “Now when the world is on the path to economic recovery, supply issues related to semi-conductors and other such things are hampering healthy growth. Imagine, who thought the world may face a shortage of shipping containers?”
He further added that India has made a mark as a trusted source in pharmaceuticals and IT, among others. He said India is now ready to play a role in the supply chain for clean technology.
The Prime Minister reiterated his promise of coming up with five billion Covid vaccine doses and said, “It is imperative that there are no problems in the supply chain. India improved the export of vaccines to increase the global supply. We are working on providing affordable COVID-19 vaccines to not just our QUAD partners but the Indo-Pacific region too.”
Modi suggested, “If there is no transparency, we have seen how during the Covid pandemic, pharma and medical supply fields suffered. Therefore, in order to ensure that a time frame is fixed, we need supply chain diversification. The developing countries need to improve their alternative manufacturing capacities.”
President Biden hosted the summit with the European Union and 14 like-minded countries to foster greater international cooperation on near-term supply chain disruptions and chart a course to strengthen and diversify the entire supply chain ecosystem.
[With Inputs from IANS]
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