A new Supply Chain Council (SCC) has been constituted under the Supply Chain Resilience Agreement, which is part of the Indo-Pacific Economic Framework for Prosperity (IPEF). This agreement, effective February 24, 2024, comprises 14 member nations from the region and aims to fortify supply chain resilience, which is vital for national security and economic stability. The United States will assume the position of Chair, while India will undertake the role of Vice-Chair. The council’s objectives include enhancing trade relations and ensuring the stability of supply chains across critical sectors, such as semiconductors, critical minerals, chemicals, and healthcare. India has also expressed a keen interest in leading task forces focused on the healthcare and pharmaceutical sectors, with two sub-committees dedicated to logistics and data analytics to address supply chain challenges. Furthermore, ongoing collaboration between India and the United States in the domains of semiconductors and critical minerals is anticipated to further strengthen supply chain resilience. The initiative also promotes the engagement of the private sector to improve the efficiency and sustainability of supply chains under the IPEF framework
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