The fifth SEMICON India opened in New Delhi, with Prime Minister Modi inaugurating the event and saying India's chip industry is thriving and Indian chips will go global. Minister of Electronics and Information Technology Ashwini Vaishnaw revealed that NVIDIA, AMD, Intel and others are conducting advanced chip design in India, and cited a goal to become one of the world's top six semiconductor nations by 2032.
Deepali Bhargava, an economist at ING Bank, released a research report noting that India's outsourcing industry shows little sign of being displaced by AI. Software services exports have risen to about 5.2% of GDP from 3.3% before the pandemic, while business services doubled to 3.3%. She believes concerns about AI disruption are premature, and the industry is adapting rather than declining.