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

Addressing the India Ideas Summit organised by US-India Business Council, he said that US‘ help would be critical in helping India become self-reliant in semi-conductor manufacturing. Due to global shortage of semi-conductor chips, which are vital for running everything from cars to computers to aircrafts and military equipments, industries are suffering, Adani said.

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

To help India become self-reliant in semi-conductor technology, US can be of great help, Adani said.

“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.