"Oil Was Black Gold, Chips Are Digital Diamonds": PM Modi On Semiconductors

Prime Minister Narendra Modi on Tuesday, while inauguration the 'Semicon India 2025' conference, said that oil was "black gold" but semiconductor chips are a "digital diamond". He also underlined India's growing role in the global chip market and said the country is set to play a key part in the trillion-dollar semiconductor sector.

"The last century was shaped by oil. Now it is based on a small chip. An investment of $18 billion is being made in 10 semiconductor projects approved since 2021. The world trusts India. The world believes in India. The world is ready to build the semiconductor future with India," PM Modi said.

The PM said the Centre is working on the next phase of the India Semiconductor Mission and Design-Linked Incentive Scheme, adding that the country is committed to meeting the growing demand for rare earth minerals. "We are working on the next phase of the India Semiconductor Mission. The government is going to give shape to the new DLI (design-linked incentive) scheme. The day is not far when the smallest chip made in India will drive the biggest change in the world," he said.

"Our semiconductor industry is not limited to chip manufacturing. We are building such a semicon ecosystem that will make India globally competitive and Atmanirbhar," PM Modi added.

According to an official statement earlier this month, the Indian semiconductor market was about USD 45-50 billion in 2024-2025 against USD 38 billion in 2023. It is expected to grow more than double in the range of USD 100-110 billion by 2030.

Semicon India 2025

The three-day event 'Semicon India 2025' is aimed at advancing a robust, resilient, and sustainable semiconductor ecosystem in India. The conference will feature sessions on the progress of the Semicon India program, semiconductor fab and advanced packaging projects, infrastructure readiness, smart manufacturing, innovations in R&D and artificial intelligence, investment opportunities, and state-level policy implementation, among others.

Additionally, the event is highlighting initiatives under the Design Linked Incentive (DLI) scheme, the growth of the startup ecosystem, international cooperation, and the future roadmap for India's semiconductor sector.

Over 20,750 attendees, including more than 2,500 delegates from over 48 countries, over 150 speakers, including over 50 global leaders, and more than 350 exhibitors are participating in the event, a statement issued by the Prime Minister's Office (PMO) said.

PM Modi is set to participate in the conference on Wednesday and attend the CEOs' roundtable.