Japan's supplementary budget for fiscal 2020 earmarked 23.5 billion yen ($221 million) for companies that move production to Southeast Asian nations. The programme aims to reduce Japan's reliance on a handful of links in its supply chains, particularly China, and ensure a steady flow of such products as medical supplies and electrical components in an emergency. This issue came to the forefront with China's shutdown in the early days of the pandemic. Another 57 are receiving support for shifting production facilities to Japan. Modi's statement also follows a decision Tuesday by trade ministers from Japan, India and Australia to begin building a resilient supply chain in the Indo-Pacific region.

Source: bd News24 September 03, 2020 20:03 UTC