It's a historic summit and the first leadership level engagement of the Quad. Prime Minister Narendra Modi, US President Joe Biden, Australian Prime Minister Scott Morrison and Japan's Prime Minister Yoshihide Suga participated in the virtual Quad meeting.

Incidentally this was among Joe Biden's first plurilateral meetings, in less than two months after he took office.

With the Quad's sights trained on China, cooperation towards maintaining an inclusive Indo-Pacific region, was high on the agenda. Discussions centred around supply chains, critical technologies and maritime security.

The most significant takeaway was the vaccine initiative - where US developed vaccines would be manufactured in India and supplied to countries in the Indo-Pacific-Japan and US will finance this initiative and Australia would be supporting it as well.

CNBC-TV18 learns that this initiative will address the demand supply gap in Indo-Pacific.

To decode the meeting, Parikshit Luthra spoke to James Fanell, Captain (Retd) from US Navy; Rajiv Bhatia, Distinguished Fellow at Gateway House; Malcolm Davis, Senior Analyst at ASPI and Sharad Tyagi, Former President of OPPI.

Watch video for more.

(Edited by : Bivekananda Biswas)