So what seems like a never-ending tech war has now escalated, with some really pertinent developments recorded recently/ This is about the ongoing chip war between China and the US, and it wouldn't be wrong to say that it's indeed becoming the next oil war, or maybe even more important than it, owing to the fact that now China spends more money each year importing chips than it spends on oil.

And well, the ego battle between these two countries is not latent. So what really happened: Earlier this week, on July 3, China put curbs on the exports of germanium and gallium, two niche metals used in the manufacturing of semiconductors and electronics. And this was in response to the Netherlands having imposed, in consultation with the United States, new restrictions on the export of the Dutch manufacturer ASML’s advanced chips machinery to Beijing. After which, even Japan announced that it would impose export restrictions on 23 types of chipmaking technology, including advanced semiconductor manufacturing equipment.

These semiconductors, which are also known as microchips or integrated circuits, are practically inside every essential product of the modern world — from household appliances to defence systems, mobile phones to cars.

So this explains its importance and the bid for its control by these biggest economies, and why it's important for a common individual to know, to understand this war. So, in this episode, our host Anna Priyadarshini and foreign affairs editor at India Today, TV Today Network Geeta Mohan look at what this war seems to be, who is winning and what will it its repercussions be, where India is in the picture, and what the future of semiconductors looks like.