COVID-19 has shown that over-reliance on the global supply chain on any single source is dangerous, Prime Minister Narendra Modi said in a clear reference to China. PM Modi made the remarks during a virtual bilateral summit with his Danish counterpart Mette Frederiksen.
The Prime Minister went on to add that India is working with Australia and Japan to diversify the supply chain, noting that similar countries are welcome to join the initiative.
“It shows the pandemic risk involved in over-reliance on the global supply chain to any single source,”; PM Modi said without naming any country or source.
India seeks to attract businesses seeking to migrate from China after the outbreak of Coronavirus.
The government has lowered taxes on the lowest-performing companies in Asia, seeking to attract new investments in an economy that marked its first decline in more than four decades this year.
The virus first appeared in China’s Wuhan city in December last year before spreading around the world.
The statement comes at a time when the country is cooperating with the military in China with the Line of Actual Control in eastern Ladakh.
Recently, the Indian Army decided to maintain the current strength of troops in all major areas in eastern Ladakh during the winter months as there were no signs of early border settlement in China.