India working with Japan, Australia for global supply-chain diversification, PM Modi tells Denmark PM during virtual summit

India and Denmark share rules-based, transparent, humanitarian and democratic value-system and the events of past few months have made it clear how important it is for like-minded countries to work together, Prime Minister Narendra Modi said on Monday.

The Prime Minister, who took part in a virtual summit with Denmark’s Prime Minister Mette Frederiksen, did not name any country and said COVID-19 has shown that it is risky to have global supply chains dependent on a single source.

He said India is working with Japan and Australia for supply-chain diversification and resilience and other like-minded countries can also join in this effort.

COVID-19 originated in the Chinese city of Wuhan and many companies are planning to shift their manufacturing bases from China.

“The events of the past few months have made it clear that how important it is for like-minded countries, who share rules-based, transparent, humanitarian and democratic value-system, to work together,” the Prime Minister said.

“COVID-19 has shown that it is risky to rely excessively on any single source of global supply chains. We are working together with Japan and Australia for supply-chain diversification and resilience. Other like-minded countries can also join this effort,” he added.

The Prime Minister said that the virtual summit will not only be useful for bilateral relations between India and Denmark but also in contributing to a shared approach to global challenges.

Noting that he had a “very productive meeting with Denmark’s Prime Minister a few months back, the Prime Minister said they talked on increasing cooperation between the two countries in several areas.

“It is a matter of happiness that we are giving new direction and speed to these intentions through the virtual summit,” he said.

India hosted the virtual bilateral summit.

Bilateral trade in goods and services between India and Denmark has grown by 30.49 per cent, from US$ 2.82 billion in 2016 to US$ 3.68 billion in 2019.

Around 200 Danish companies have invested in India in sectors such as shipping, renewable energy, environment, agriculture, food processing and smart urban development.

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