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Economy

Modi calls for 'trustworthy' supply chains, in alternative to China

Japan adds India and Bangladesh as eligible sites for relocation subsidies

NEW DELHI/TOKYO -- Indian Prime Minister Narendra Modi on Thursday proposed reshaping global supply chains based on trust and stability, and not just cost benefits, as the country eyes new logistics networks that are less dependent on China.

His comments came the same day that Japan expanded a subsidy program that helps Japanese companies move out of China, by including new destinations such as India and Bangladesh. The program had initially envisioned factories moving back to Japan or shifting production to Southeast Asia.

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