NEW DELHI (CU)_As the leaders of the Quadrilateral Security Dialogue are set to meet for the first time on Friday (12 March), the group plans to announce financing agreements for the expansion of the manufacturing capacity of COVID vaccines in India, Reuters reported.
According to the news outlet, these financing agreements will particularly focus on institutions in India which manufacture vaccines for American drug makers Novavax Inc and Johnson & Johnson.
The purpose of the initiative is to reduce production backlogs, speed vaccination programmes, as well as to defeat some of the Coronavirus mutations, the news agency added.
“The idea is that the quicker you can vaccinate, the more that you can defeat some of these mutations. So, this is a capacity that will come online later this year, and it will substantially increase our capacity, collectively,” Reuters quoted an official source who did not want to be identified by name.
Earlier on Tuesday, the White House announced that US President Joe Biden will join the leaders of India, Japan and Australia, in the virtual meeting, which is seen as part of efforts to counter China’s growing economic and military power, particularly in the Indo Pacific region.
According to White House Press Secretary Jen Psaki, the leaders are expected to discuss several issues faced by the global community, including the COVID-19 pandemic, economic cooperation, as well as the climate crisis.
Previously, New Delhi urged the members of the group to invest in its vaccine production capacity in order to counter China’s growing vaccine diplomacy.
