In the last week of April, India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI) to build resilient supply chains in the Indo-Pacific region to reduce their dependence on China.
This development comes against the backdrop of the Joe Biden administration, in its first 100 days, expanding the scope of the Quad grouping from a limited conventional security grouping to one with an economic dimension through multiple trade, aid and supply chain initiatives.
In the month of March, President Biden hosted the first-ever Quad summit with leaders of Japan, Australia and India, committing to provide one billion doses of Covid-19 vaccine to South East Asia. The salient feature of that commitment was the division of roles — India will manufacture, Japan will finance, the United States (US) will provide the technology and Australia will assist with the logistics.
This division of roles sets a template for future economic cooperation among the Quad nations and one for India to define its economic statecraft in the region.