- After facing a shortage in the last two years the global semiconductor industry is expected to grow by over $600 billion for the first time ever.
- Defence and cyber are other areas where India and US can collaborate, as well as healthcare: Adani
- Adani Group to set up three giga factories as part of its commitment to invest $70 billion in green energy and related businesses
NE BUSINESS BUREAU
NEW DELHI, SEP 8
With an aim to make India self-reliant, Chairman and Founder of Adani Group Gautam Adani has sought help from US for India to start manufacturing semiconductor chips used in computers, smartphones cars, aircraft, medical equipment and other electronics.
He was speaking on “Maximizing the Next 75 Years of US-India Prosperity” at the US-India Business Council (USIBC) summit on Wednesday where he expressed his thoughts on the matter and asked for support from US. He said this after receiving the USIBC Global Leadership Award.
To avoid import dependence, the Indian government wants to start manufacturing the chip domestically.
After starting a semiconductor manufacturing plant it plans to develop a position in export segment as well.
“We live in a world where semiconductors are essential to almost all sectors of the economy. The ongoing war has only accelerated this recognition. The paradox of capitalism is that India continues to be the best global pool for millions of engineers—especially for US firms—but the primary value addition to the businesses happens outside India. The semiconductor industry is a classic example with more engineers deployed in India than anywhere else in the world, and yet, India has no semiconductor plant,” said Adani.
Adani further said that the global supply chains are subject to semiconductor and India will need US support to get self-reliant in this regard.
After facing a shortage in the last two years the global semiconductor industry is expected to grow by over $600 billion for the first time ever.
“Defence and cyber are other areas where India and US can collaborate, as well as healthcare, Adani said. “India needs support in both these areas, and, at this time, we are just skimming the surface. These are two essential areas where our partnerships must span technology transfer to be able to build mutual confidence,” Adani added.
Adani also expressed optimism on India and the US reaching an understanding on a trade deal soon. “…while negotiators from our countries have struggled to reach a deal on a trade package and tariffs, I believe we are closer than ever to addressing the open matters. I am confident we will resolve this and mutually accept some compromises. What we cannot afford is to remain stuck in the belief that all aspects of trade and relations are being hampered as a result of tariffs,” he said.
Adani Group would set up three giga factories as part of its commitment to invest $70 billion in green energy and related businesses. This will lead to one of the world’s most integrated green energy value chains, Adani said.
“This will extend from polysilicon to solar modules, complete manufacturing of wind turbines, and the manufacturing of hydrogen electrolyzers,” Adani said
Vice Chairman Nasdaq, Ed Knight Executive Vice President and Head of International affairs of US Chamber of Commerce, Myron Brilliant President of US India Business Council, Ambassador Atul Keshap were present at the awards ceremony..
