India can't remain dependent on global supply chains for semiconductor: Gautam Adani
New Delhi [India], September 7 (ANI): Semiconductors have become very important for almost all sectors of the economy and India cannot remain dependent on the global supply chains for it, Adani Group Chairman Gautam Adani said on Wednesday.
ANI
Sep 07, 2022 14:42 IST
New Delhi [India], September 7 (ANI): Semiconductors have become very important for almost all sectors of the economy and India cannot remain dependent on the global supply chains for it, Adani Group Chairman Gautam Adani said on Wednesday.
"The semiconductor industry is a classic example with more engineers deployed in India than anywhere in the world and yet India, no semiconductor plant. India cannot remain dependent on global supply chains that are based on semiconductor nationalism. And will need US support with a technology transfer," Adani said after receiving USIBC Global Leadership Award 2022.
He stressed that semiconductors are essential to almost all sectors of the economy and ongoing war has only accelerated this recognition.
"We live in a world where semiconductors are essential to almost all sectors of the economy. The ongoing war has only accelerated these recognitions. The paradox of capitalism is that India continues to be the best global pool for millions of engineers, especially for US companies. But the primary value addition to the businesses happens outside India," Adani said.
Adani also sought more collaboration between India and the US on healthcare, defence and cyber technologies.
Regarding climate change, Adani said, "In terms of climate change, there has been a lot of talk about developed nations supporting the developing nations. But far more needs to be done urgently. With the signing of the US Climate Bill into law, both nations must find a mechanism to benefit from this."
He noted that the Governments have done their part and it is now the job of businesses to find a way to collaborate.
"Adani Group has already committed $70 billion to these efforts. It will see us building 3 Giga factories in India, leading to one of the world's most integrated wind energy value chains," he said.
While receiving the USIBC award, Adani said, "awards come on the occasion of the 75th anniversary of India's freedom makes it more significant and memorable." (ANI)
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