Foundries are facilities that manufacture chips that other companies design. So there aren't many giant Indian chip firms and certainly no leading-edge manufacturing companies. "I have no doubt that India has a big role to play," Kotasthane said. Semiconductor design requires large numbers of skilled engineers and this is where India's strength lies," he added. So now, the next step is the effort to build an ecosystem where there is some Indian IP (intellectual property) by Indian companies," Kotasthane said.

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