‘Oil Was Black Gold, Chips Are Digital Diamonds’: PM Modi On India's Semiconductor Growth

At the inauguration of Semicon India 2025 in New Delhi, Prime Minister Narendra Modi underscored India’s rising role in the global semiconductor industry. Drawing a parallel, he called oil the “black gold” of the 20th century and chips the “digital diamonds” of the 21st century. Highlighting the semiconductor market’s \$600 billion value, projected to surpass \$1 trillion, Modi stressed India’s demographic dividend, skilled workforce, and innovation ecosystem as key to becoming a global leader in chip manufacturing.