Optimise globalisation, don’t deny its reality, Jaishankar says at semicon meet

“There is already a debate underway on the downsides of globalisation. But in the technology and manufacturing worlds, this is a reality that cannot be reversed. The objective here is to optimize globalisation, not deny its reality. [We are] heading for an era of re-globalisation, with many more centres of production, one which is clearly much more collaborative than in the past, where we do not see that kind of over-concentration anymore,” said India’s top diplomat. In this context, he said, India’s efforts to manufacture semiconductors domestically assumes even more importance.

“Our semiconductor mission is not just about meeting domestic requirements, it is also about contributing to global demand for trusted manufacturing. Indeed, it is truly a powerful case for ‘make in India, make for the world’,” he added.

Jaishankar also pointed to India’s growing semiconductor development partnerships with trusted firms. He focused on an MoU on semiconductors signed with the United States during Secretary of Commerce Gina Raimondo’s visit and an MoU on semiconductor supply-chain resilience with Japan. These partnerships have become more crucial given the outbreak of heated competition between nations to develop and dominate the future of advanced technologies, he said.

“One of its primary characteristics is how deeply embedded technologies are in a manner that profoundly influences all aspects of our lives. Now, if the very nature of our economic and social activities undergoes a transformation as a result, it is not surprising that critical and emerging technologies should now emerge as one of the most important metrics of power,” he said.

“Who invents? Who manufactures? What are the market shifts? Where are the resources? Who has the skills? Where is the talent? These are now the increasingly crucial questions in the global arena. Now, some of you would have heard the term chip war and I think, perhaps, the depiction of a chip war may be somewhat overstated, but it has more than a fundamental kernel of truth,” he added.

Updated: 30 Jul 2023, 03:22 PM IST