Billionaire businessman and chairman of the Adani Group, Gautam Adani, said that India needs to become self-reliant in the manufacturing of semi-conductors.

Addressing the India Ideas Summit organised by the US-India Business Council, he said that the US’ help would be critical in helping India become self-reliant in semi-conductor manufacturing.

Due to the global shortage of semi-conductor chips, which are vital for running everything from cars to computers to aircraft and military equipment, industries are suffering, Adani said.

He said in his address that the Indian government wants to start domestic manufacturing of semi-conductor chips so that it can be in a position to export them in the future.

Adani said that to help India become self-reliant in semi-conductor technology, the US could be of great help.

“India cannot remain dependent on global supply chains as chips are required by everyone,” he said.

Adani also received the USIBC Global Leadership Award during the summit.