‘Don’t deny reality, but optimize globalization’
New Delhi: External affairs minister S. Jaishankar on Sunday called on businesses to “optimize globalization" as global supply chains become more distributed. “There is already a debate underway on the downside of globalization.
But in the technology and manufacturing worlds, this is a reality that cannot be reversed. The objective here is to optimize globalization, not deny its reality — if you’re heading for an era of re- globalization, 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," he told the Semicon India conference. It was in this context, he said, that India’s efforts to manufacture semiconductors domestically became ever more important.
“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’ and ‘make for the world’," he added. Jaishankar also pointed to India’s growing semiconductor development partnerships with trusted partners, citing an MoU on semiconductors signed with the US and another on semiconductor supply chain resilience with Japan.
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