COVID-19 has shown that the excessive dependence of the global supply chain on any single source is risky, said Prime Minister Narendra Modi in an apparent reference to China. PM Modi made the remarks during a virtual bilateral summit with his Denmark 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 like-minded countries are welcome to join the initiative.
“The pandemic showed the risk involved in excessive dependence of the global supply chain on any single source,” PM Modi said without naming any country or source.
India has been seeking to attract businesses looking to relocate from China in the aftermath of the Coronavirus outbreak.
The government has already lowered taxes on companies to among the lowest in Asia, seeking to attract new investments in an economy which marked its first contraction in more than four decades this year.
The virus first emerged in the Chinese city of Wuhan in December last year before spreading across the world.
The statement comes at a time when the country is engaged in a military standoff with China along the Line of Actual Control in eastern Ladakh.
Recently, the Indian Army decided to maintain its current strength of troops in all key areas in eastern Ladakh in the winter months as there was no sign of early resolution of the border row with China.