At the inauguration of the ‘Semicon India 2025’ conference on Tuesday, Prime Minister Narendra Modi emphasized the transformative role of semiconductors, stating that while oil was considered “black gold” in the last century, today, semiconductor chips are the “digital diamonds” powering the modern world. Highlighting India’s emergence as a key player in the global chip market, he said that $18 billion has been invested in 10 semiconductor projects since 2021.
PM Modi noted that the world has confidence in India’s capabilities and is ready to partner with the country in shaping the semiconductor future. He announced that the government is working on the next phase of the India Semiconductor Mission and will soon introduce an updated Design-Linked Incentive (DLI) scheme. India is also focusing on the growing demand for rare earth minerals.
He added that the aim is to build a globally competitive and self-reliant semiconductor ecosystem. The Indian semiconductor market, valued at $45-50 billion in 2024-25, is projected to reach $100-110 billion by 2030.
