Bengaluru: India’s External Affairs Minister, S. Jaishankar, has underscored the critical importance of the semiconductor industry, asserting that the “next world war will be fought on chips”. Speaking at the India Ideas Conclave 2024 in Bengaluru on Friday, Jaishankar stressed India’s need to strategically invest in building a robust semiconductor ecosystem.
“We have to figure out, are we a bystander and a victim, or are we a player? If we have to be a player, we have to weigh into it, make the investments, train the people, and we have to bring something to the table, and we are doing that,” Jaishankar stated during the event.
Highlighting India’s early foray into semiconductors, Jaishankar pointed out that Semiconductor Complex Ltd (SCL) was established in Chandigarh in the 1980s, long before China and Taiwan entered the global semiconductor fabrication race. However, he lamented that the sector had been largely neglected for decades.
Fabs, or fabrication facilities, are specialized plants that manufacture semiconductors, a critical component in advanced technologies.
“Look at the situation today. You have a PSMC coming up, collaborating with an Indian company to set up a fab. You have a Micron. You have Lam Research, we have Applied Materials, and a whole host of companies because we have a government with a vision and the boldness to back it up with resources, along with an understanding of the world and its talents,” he remarked.
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Jaishankar also emphasized the transformative perception of India on the global stage. “The current brand of Bharat is viewed as an ambitious brand. There is a sense today that we take the hard calls, we will put in the resources, and we will go our own way,” he said.
In a separate address at the same conclave, Finance Minister Nirmala Sitharaman advocated for positioning India as a nation practicing “responsible capitalism”.
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“We need to understand that capitalism also has its limitations. It is important to brand India as a responsible capitalist country, one that knows how to take care of its people, with many of its institutions doing their job,” Sitharaman noted.
The conclave served as a platform for thought leaders to deliberate on India’s path forward in critical areas, with the semiconductor industry taking center stage as a pillar of strategic importance.
