It seems like you cannot open a newspaper, listen to a foreign policy podcast, or open Twitter/X without somebody somewhere sounding off on the emerging geopolitical battle over semiconductors. Semiconductors, which we colloquially refer to as chips, have quickly moved from the periphery to center-stage of global high politics. To discuss this high-stakes race, and India’s role in it, Milan is joined on the show this week by the scholar Pranay Kotasthane. Pranay is Chair of High-Tech Geopolitics at the Takshashila Institution in Bangalore and, with Abhiram Manchi, is the author of the new book, When the Chips Are Down: A Deep Dive into a Global Crisis. Pranay and Milan discuss the history of the technology, importance of semiconductors at the current geopolitical crossroads, and how the world will balance national security interests and with rapid technological change. Plus, the two discuss India’s most recent attempt to build a semiconductor ecosystem and the policy missteps that bedeviled past efforts.