Modi’s mantra at supply chain summit: Trusted Source, Transparency & Time frame

Prime Minister Narendra Modi underlined 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 at Rome.

After making its mark as a trusted source in pharmaceuticals, IT, among others, Modi said India is now ready to play a role in the supply chain for clean technology.

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.

Recalling the initial months of the Covid-19 pandemic when all countries faced paucity of medicines, health equipment and raw materials for preparing vaccines, Modi said, “Now when the world is on path to economic recovery, supply issues related to semi-conductors and other such things are hampering a healthy growth. Imagine, who thought the world may face shortage of shipping containers?”

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.”

Not having a trusted source or a source with reactive tendency is very important, Modi added and 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 over the long-term — from raw materials, intermediate and finished goods, manufacturing to shipping, logistics, warehousing and distribution.

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Arushi Sana is the Founder of Santerra Living and Co-Founder of NYK Daily. She was awarded the Times Power Women of the Year 2022 and Times Digital Entrepreneur of the Year 2023. Arushi is also a Sustainability Consultant for organisations looking to reduce their carbon footprint and also works with brands on social media to help them carve a presence in that niche. She holds a Degree in Computer Science Engineering from VIT University and a Diploma in Marketing Analytics from IIM Nagpur. Her interest in Sustainable Living and Interior Design led her to start a Sustainable e-Marketplace where customers can buy eco-furniture and eco-friendly products for everyday use. Arushi is a writer, political researcher, a social worker, a farmer and a singer with an interest in languages. Travel and nature are the biggest spiritual getaways for her, and she aims to develop a global community of knowledge and journalism par excellence through this News Platform.

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