India has been elected as vice-chair of the supply chain council, one of the three bodies set up by the 14-member Indo-Pacific Economic Framework (IPEF) bloc, the commerce and industry ministry said Wednesday.
The council was set up under the IPEF Supply Chain Resilience Agreement, which aims to help mitigate risks of economic disruptions from supply chain shocks, improve crisis coordination, and reduce the member countries’ dependence on China. The council aims to pursue targeted, action-oriented work to strengthen the supply chains for those sectors and goods most critical to national security, public health, and economic well-being.
Content Source: economictimes.indiatimes.com