IT Minister Ashwini Vaishnaw said there’s an ‘ecosystem shift’ to the country as he revealed plans to develop India’s chip sector

The development follows the Dutch government’s announcement that it would restrict exports of critical chipmaking technology to protect national security

For Chinese customers, the restrictions would mean “that their ability to pursue leading-edge nodes development will be significantly curtailed," Citi analyst Amit Harchandani said

The Netherlands considers it necessary on national security grounds to get this technology into oversight with the greatest of speed, the Dutch trade minister said

The move signifies Beijing's changing priorities as it looks to strengthen is capabilities while Washington cuts off access to cutting edge technology

"To have dispatched an advanced fighter jet to shoot down a balloon with a missile, such behaviour is unbelievable," China's top diplomat said at a global security conference

Last month, on the heels of an export ban by the US and amid ongoing lay-offs in tech industries across the world, YMTC announced it would dismiss 10% of its staff

The laid-off workers were identified as 'poor performers' just two months after the US chip sanctions on China hit YMTC, SCMP said

Japan is a major supplier of machines used to make leading-edge semiconductors that could come under new restrictions

Europe’s largest technology company said the measures were not expected to have a material impact on its 2023 financial forecasts

Netherlands-based ASML Holding, a key supplier to chipmakers, could see at least some of its $2.4 billion in annual sales to China affected by fresh curbs

The Netherlands will restrict ASML from selling advanced chimaking equipment to China, while Japan would impose similar restrictions on Nikon Corp, media reports said