India, Aug. 6 -- Semiconductors, or chips, have become essential infrastructure for the global economy. Whether it is AI, cloud computing, automation, electric vehicles or industrial digitisation, each one relies on increasing amounts of computing power. At the centre of this demand for computing power sits the semiconductor industry.

While semiconductors are often discussed as a single industry, the ecosystem includes several distinct groups of companies.

* Chip designers such as Nvidia and AMD

* Memory producers such as Samsung and Micron

* Manufacturers such as TSMC and Intel

* Equipment suppliers such as ASML and Applied Materials.

A structurally stronger industry

The semiconductor industry has historically experienced pronounc...