Embrace Chips, India, and Skip Those Tech Dreams
Profit isn’t the purpose of this semiconductor mission — it’s securing the supply chain.
The bleeding edge is beyond India’s reach.
Photographer: An Rong Xu/Bloomberg
It is a truth universally acknowledged that a nation of reasonable size and prosperity must be in want of a semiconductor industry. India is no exception to the global rush to subsidize chip fabrication; the government set aside $10 billion for new facilities in 2022 and it has plans to double that amount.
There are expectations that money will provide a return soon. Last week, Prime Minister Narendra Modi promised that the country would soon have a “significant share” in a market worth over a trillion dollars: “Our journey began late but nothing can stop us now. India is now moving from the back-end to becoming a full-stack semiconductor nation.”