A Goldman Sachs report suggested that at least 169 industries had been impacted by the global chip supply shortage in 2021. The crunch in semiconductors supply began during the Covid-19 pandemic and went on to intensify in 2021. The raw materials come mostly from Japan and Mexico.ĪLSO READ: India's semiconductor mission and how it can drive employment Semiconductor chips are made from silicon, one of the most available substances on Earth, and are fitted into microcircuits that power electronic goods and components. And a disruption in semiconductor supply has led to billions of dollars of losses for major companies across the globe. US Secretary of Commerce Gina Raimondo said India's desire to expand its advance manufacturing of semiconductors was totally aligned with her country's desire and goal to make the American supply chain more resilient.Ĭommerce and Industry Minister Piyush Goyal also said that the MoU would help in expanding mutual cooperation and enhancing resilient supply chains.įrom automobile to electronic goods and to smartphones, all need semiconductors. The relations between the two countries appear to have deteriorated sharply. There is a real threat of huge disruption in the case of Chinese aggression against Taiwan.ĪLSO READ: Decoded | Impact of semiconductor chip shortage on global economyĬhina claims Taiwan to be part of its territory and has been looking for "reunification". Most of the semiconductor chips are produced in Taiwan by American and Chinese companies.
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