Most Read This Week This Month ‘Chips are like oil, India will need at least 10 Fab Units’ Chips are like “oil” and are important for both strategic and commercial reasons, Vaishnaw told ET’s Surabhi Agarwal in an interview. India cannot always keep importing chips, he said, expressing disappointment over comments by former RBI governor Raghuram Rajan that the country should not get into chip manufacturing.