India: From Oil Wells to Digital Diamonds

Prime Minister Narendra Modi celebrated India's burgeoning semiconductor sector at the SEMICON India 2025 event, highlighting the nation's rapid growth and ongoing investments. As global demand soars, India is poised for a significant market share, supported by strategic policies and infrastructure developments.

Prime Minister Narendra Modi attended the second day of the SEMICON India 2025 event, held at Yashobhoomi in the India International Convention and Expo Centre. The Prime Minister expressed confidence in India's rapidly expanding semiconductor ecosystem, stating that the world is keen to partner with India in building its semiconductor future.

Modi underscored the transformative power of semiconductors, likening them to 'digital diamonds' in contrast to oil's historical role as 'black gold.' He noted that while the global economy of the last century revolved around oil, the future hinges on the tiny chip's vast potential to drive global progress.

Highlighting the sector's growth, Modi revealed that the global semiconductor market is projected to exceed $1 trillion, with India set to capture a substantial share. He outlined the swift progress since the launch of the Semicon India program in 2021, with multiple semiconductor projects already approved and more underway, totaling over eighteen billion dollars in investments.

Modi cited India's streamlined processes in the semiconductor sector, facilitated by the National Single Window System that reduces bureaucratic hurdles, enabling swift project implementation. Semiconductor parks under a plug-and-play infrastructure model, with necessary facilities, further bolster this progress, attracting continuous investment.

The Prime Minister reiterated India's commitment to offering comprehensive solutions through initiatives like PLI incentives and Design Linked Grants, which ensure industrial growth and reinforce India as a pivotal player in the semiconductor domain.

(With inputs from agencies.)