India-Denmark summit: PM Modi calls for diversification of supply-chain, says 'single source dependency risky'

Indian Prime Minister Narendra Modi during his virtual summit with Denmark's PM Mette Frederiksen called for diversification of the global supply chain and without taking China's name, highlighted how risky it has been to be depended on a "single source."

He said, "COVID-19 has shown us that global supply chain can't be dependent on a single source and it has been risky."

He further added, "We are working with Australia and Japan for diversification of the supply chain. Other link minded nations can join us."

Global supply has been China-led, something which has been a cause of worry. Earlier this month, India, Australia, and Japan announced a supply chain resilience initiative which called for enhancing the resilience of supply chains in the Indo-Pacific region.

Indian PM said, "The events of the past few months have made it clear that for like-minded countries like us, who share a rules-based, transparent, humanitarian and democratic value-system need to work together."

On the COVID-19 crisis, he called for collaboration in the like-minded country and said India will leverage its pharma advantage for the benefit of the world.

Denmark's PM Mette Frederiksen said, "The summit is a milestone for our bilateral relations, on an important and forward-looking agreement on the green strategic partnership."

India and Denmark have also agreed on the 2nd India Nordic countries summit. The first such summit took place in 2018 in Stockholm.

This is the 4th virtual meet of Indian PM due to the pandemic. He has already met the leaders of Australia, the EU, and Sri Lanka.