INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Prime Minister Narendra Modi on Tuesday called for building a resilient and inclusive supply chain, amplifying a pitch that
reflects the global wariness over dependence on China as the "factory of the world"."The Covid pandemic has taught us the importance of
resilient and inclusive supply chains
For this, trust and transparency are very critical
We can use each other's strength to contribute towards the betterment of the entire world, especially the Global South," the PM said in
his address at the Brics Business Forum in Johannesburg
Significantly, Modi's remarks came ahead of his likely interactions, including a possible one-on-one with Chinese President Xi Jinping,
and in the presence of Beijing's commerce minister Wang Wentao.03:05South African President Cyril Ramaphosa welcomes Xi Jinping in
JohannesburgIndia has joined the US, Australia, Japan and others in seeking to build a "resilient supply chain", a euphemism for reducing
dependence on China, which has been flooding western markets with everything from garments to gadgets, making use of a liberal trade
regime.During the pandemic, with many countries dependent on supply of masks and test kits from the Asian giant, the world became acutely
aware of the risk posed by China's dominance and several countries have initiated steps to shore up domestic manufacturing
India too has been seeking investments through the production linked incentive scheme and other initiatives, which Modi flagged in the
presence of South African President Cyril Ramaphosa and Brazilian President Luiz Inacio Lula da Silva.Russian President Vladimir Putin has
not travelled to South Africa for the summit and will join virtually
Modi's remarks, articulating the need to diversify supply chains, something that has found expression in the West's "de-risking" and
China+ strategies, acquire significance also because of the setting.PM calls for Brics digital payment pact like one between India -
FranceThe Asian giant has been flooding western markets with everything from garments to gadgets, making use of a liberal trade
regime.During the pandemic, with many countries dependent on supply of masks and test kits from the Asian giant, the world became acutely
India too has been seeking investments through the production-linked incentive scheme and other initiatives, which Modi flagged in the
presence of South African President Cyril Ramaphosa and Brazilian President Luiz Inacio Lula da Silva
also because of the setting
For, China has been looking forward to use the Johannesburg meeting to promote Brics as a counter to the West-dominated international order
Tensions between India and China have increased since the LAC face-off.Amid tie-ups on UPI and payment systems with countries such as
Singapore, UAE and France, Modi suggested a similar partnership among Brics nations and said India was now home to the largest number of
He said the bloc of emerging nations could play a crucial role and underlined how India was going to be a key driver of global
Soon, it will be a $5 trillion economy
Modi highlights economic reforms and technological leap at BRICS Business Forum in South Africa
