After U.S. President Donald Trump last week applied 50 percent tariffs on all goods imported from India, Indian Prime Minister Narendra Modi met in China with Chinese President Xi Jinping and Russian President Vladimir Putin, leaders of two nations that are — despite areas of cooperation — generally considered U.S. adversaries.
National security experts, including Trump’s former National Security Advisor John Bolton, called the triad meeting “humiliating” for Trump, who met with Putin in Alaska in mid-August in an so-far stalled attempt to push forward a peace deal between Russia and Ukraine.
Today on social media, Modi reported from SEMICON India 2025, a major global conference on the nearly $1 trillion semiconductor industry.
The Indian PM wrote: “Earlier today, interacted with leading CEOs from the world of semiconductors during SEMICON India 2025. Their confidence in India’s potential is evident and they are betting big on India as a global hub for semiconductor innovation and manufacturing. I talked about India’s relentless reform journey in this sector, which includes building robust infrastructure and emphasis on skilling as well as innovation.”
In the group photo below, standing in the front line with Modi, on the far right, is American Tim Archer, President and CEO of Lam Research (LRCX), which is headquartered in Fremont, California.
Earlier today, interacted with leading CEOs from the world of semiconductors during SEMICON India 2025. Their confidence in India’s potential is evident and they are betting big on India as a global hub for semiconductor innovation and manufacturing. I talked about India’s… pic.twitter.com/9Eba4xyLRI
— Narendra Modi (@narendramodi) September 3, 2025
As seen in the video below, shared by India’s Ministry of Information and Broadcasting, Archer said at the conference in India: “The future of the Indian semiconductor industry is bright. This is an emerging market with a deep talent pool, and a government that is actively enabling progress through incentives and policy.”
“The future of the Indian semiconductor industry is bright. This is an emerging market with a deep talent pool. The government is actively enabling progress through incentives and policy.”
~ Tim Archer, CEO, LAM Research at #SEMICONIndia2025 @GoI_MeitY @SemiconIndia… pic.twitter.com/GryLsdEhRL
— Ministry of Information and Broadcasting (@MIB_India) September 2, 2025
Archer added: “We are making good progress integrating India into our global supply chain ecosystem, which we believe will deliver shared value across the industry.”
[The 50% tariffs on India are “akin to a sanction on trade between the world’s biggest and fastest growing economies,” the BBC reports. In addition to the 25% tariff premium imposed by the U.S. as a punishment for India’s purchases of Russian oil, Trump says the base “reciprocal” tariff of 25% is in place to rebalance a trade relationship Trump calls “a totally one sided disaster.” Effectively integrating India into Lam’s “global supply chain” as Archer wishes will require clarity — and likely an easing — on tariffs.]
Archer also met with Piyush Goyal, India’s Union Minister of Commerce & Industry, who said that they discussed Lam Research’s growth plans in India “and the immense opportunity that our country offers to build the next-gen semiconductor ecosystem with R&D, skilling, design and manufacturing.”
Held a meeting with Mr. Tim Archer, President & CEO, @LamResearch.
Discussed the company’s India growth plans and the immense opportunity that our country offers to build the next-gen semiconductor ecosystem with R&D, skilling, design and manufacturing. pic.twitter.com/4GTutSjVz8
— Piyush Goyal (@PiyushGoyal) September 1, 2025
According to AInvest, LRCX emerged as “standout performer in the semiconductor equipment sector, driven by a combination of strategic positioning in a high-growth market and exceptional financial outperformance.” Highlighting that rating was a “33.6% year-over-year (YoY) revenue increase in the June 2025 quarter, operating margins exceeding 34%, and a return on equity (ROE) of 58.47%.”