Joe Biden hosts Supply Chain Resilience Summit on sidelines of G20, PM Modi attends event

On the sidelines of the G20 leaders' summit in Rome, Prime Minister Narendra Modi attended the Supply Chain Resilience Summit sponsored by US President Joe Biden. According to a statement released by the Ministry of Commerce and Industry, countries acknowledged that the COVID-19 pandemic was having an unprecedented impact in terms of lives lost, livelihoods lost, and economies affected, and that the pandemic had revealed supply chain vulnerabilities globally and in the region.

In April, India's, Japan's, and Australia's trade ministers formally inaugurated the Supply Chain Resilience programme at a Trilateral Ministerial Meeting. By addressing supply chain vulnerabilities, the Supply Chain Resilience Initiative (SCRI) will aid in the growth of commerce. Media agency ANI tweeted about US Vice President Joe Biden's statements at the 'Supply Chain Resilience' event in Rome. The caption read, "Our supply chain should be diversified so that we're not dependent on any single source that might cause a failure. It should be secure against natural & man-made threats including cybercrimes: US President Joe Biden at an event on 'Supply Chain Resilience' in Rome."

US President Biden said at the event that he is allocating additional funding to assist American allies, as well as the United States, cut port congestion by reducing red tape. US President Joe Biden advised international leaders to consider strengthening stockpiles important to national security in their countries, according to the White House. "I urge all of you to consider boosting the stockpiles critical to national security in your countries. Like so many challenges today, it is not a problem any one of our nations can solve through unilateral actions. Coordination is the key," he remarked at the Supply Chain Resilience programme attended by PM Narendra Modi. This epidemic will not be the last global health issue we confront, Biden stated, referring to the health problem. We must also strengthen our resilience in the face of climate change, natural calamities, and even deliberate attacks, he added.

PM visits Rome's famous Trevi Fountain, met German Chancellor & Spanish PM

According to the Ministry's statement, possible policy initiatives include encouraging greater use of digital technologies and encouraging trade and investment diversification. PM Modi also paid a visit to Rome's famous Trevi Fountain earlier in the day, tossing a penny into the well-known wishing well. He also spoke during the G20 Summit's second session on climate change and the environment. The Prime Minister met with German Chancellor Angela Merkel and Spanish Prime Minister Pedro Sanchez during the day. 

At the Convention Centre, the leaders of the Group of 20 nations (G-20) took part in the summit's third session, which focused on sustainable development. On Friday, the Prime Minister landed in Italy for the two-day G20 Summit. The subject of this G20 meeting, which is being hosted by Italy, is 'People, Planet, and Prosperity.' On the sidelines of the G20 Summit on Saturday, PM Modi met with a number of dignitaries, including US Vice President Joe Biden and French President Emmanuel Macron.

(With inputs from ANI)

Image: ANI