Fortune in the fray?

Owing to the simmering chip war between the US and China, a fundamental reordering of global supply chain is in the offing, which India can avail to its advantage

- SHOVANLAL CHAKRABORTY

During the last quarter of 2023, US President Biden signed an executive order addressing US investments in certain national security technologies and products in countries of concern. This decree symbolises the Biden administration's intensified efforts to prevent both skill and technology leaks to China within the high-tech sector, despite prior measures. Politically, this step underscores China's role as a consistent factor driving bipartisan consensus in Washington and suggests that President Biden may not be squeamish about cashing in on the ensuing political gains. At another level, this executive order also marks the anniversary of the 2022 Chips and Sciences Act, acknowledging that existing steps fell short in establishing a cohesive ecosystem in the semiconductor industry.