New Delhi: Prime Minister Narendra Modi on Tuesday likened semiconductors to the new global currency of power, declaring that while oil was the “black gold” of the 20th century, chips are the “digital diamonds” shaping the 21st.
Speaking at the inauguration of the Semicon India 2025 conference in New Delhi, the Prime Minister said India is emerging as a trusted partner in the trillion-dollar semiconductor industry and highlighted the country’s rapid progress in building a robust chip ecosystem.
“The last century was shaped by oil. Today, the world runs on chips. Since 2021, we have approved 10 semiconductor projects worth $18 billion. The world trusts India, believes in India, and is ready to build the semiconductor future with India,” Modi said.
India’s Big Push In Semiconductors
The Prime Minister announced that the Centre is working on the next phase of the India Semiconductor Mission along with a revamped Design-Linked Incentive (DLI) scheme to accelerate domestic innovation and manufacturing.
“The day is not far when the smallest chip made in India will drive the biggest change in the world,” Modi said, stressing that India’s semiconductor journey is not limited to manufacturing but extends to creating a globally competitive, Atmanirbhar ecosystem.
He also noted the government’s focus on securing critical rare earth minerals to meet the sector’s surging demand.
According to government estimates, the Indian semiconductor market stood at $45–50 billion in FY 2024-25, up from $38 billion in 2023. By 2030, it is projected to more than double to $100–110 billion, making India one of the fastest-growing chip markets globally.
The three-day conference is designed to showcase India’s progress in semiconductor fabrication, advanced packaging, smart manufacturing, and AI-driven innovations. It will also spotlight opportunities in infrastructure, R&D, and state-level policy frameworks.
The event brings together a vast network of stakeholders, with over 20,750 participants, 2,500 delegates from 48 countries, more than 150 speakers — including 50 global leaders — and 350+ exhibitors, according to the Prime Minister’s Office.
A key focus of the summit is the Design Linked Incentive scheme, which is expected to boost India’s startup ecosystem and strengthen international cooperation in the semiconductor space.
With semiconductors at the heart of everything from smartphones to satellites, India’s ambition to position itself as a global chip hub comes at a time when supply chain disruptions and geopolitical rivalries are redrawing the map of technological dominance.
