PM Modi At Semicon India: Oil Was 'Black Gold' While Semiconductor Chips Are 'Digital Diamond'

Prime Minister Narendra Modi on Tuesday inaugurated the Semicon India 2025 conference in the national capital, where the Union IT minister Ashwini Vaishnaw presented the first Indian-made Vikram 32-bit processor to him.

What Did The Prime Minister Say?

While addressing the leaders as well as global participants, Prime Minister Narendra Modi underlined India's growing role in the semiconductor ecosystem, highlighting reforms, investments, and the country's commitment to becoming a full-stack semiconductor nation.

PM Modi said that while India may have started late in the chip race, but the nation is now "unstoppable" in its mission to become a semiconductor hub.

Additionally, he also drew parallels between oil and semiconductors, calling oil "black gold" and semiconductor chips "digital diamond".

"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," the Prime Minister said.

He further added that 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 mineral.

Further, PM Modi added that the government is also 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.

According to the Prime Minister the Indian semiconductor industry is not just limited to chip manufacturing but India is also building a semicon ecosystem which will make India globally competitive and Atmanirbhar.

The Indian semiconductor market was about $45-50 billion in 2024-25 against $38 billion in 2023, according to an official statement released earlier this month. The industry is also expected to grow more than double in the range of $100-110 billion by 2030.

Also Read: Sugar Rush On D-Street: What's Fuelling The Rally Of Dhampur Sugar Mills, Balrampur Chini Mills, Shree Renuka Sugars Shares?