PM Modi: World is ready to build semiconductor future with India

CHIP PROJECTS WORTH $ 18 BN UNDERWAY

- OUR CORRESPONDENT

NEW DELHI: As the country steps forward to the keenly watched advancement towards the next phase of the India Semiconductor Mission, Prime Minister Narendra Modi on Tuesday said 10 semiconductor projects worth over USD 18 billion are underway as efforts are underway to revamp the design-linked incentive scheme to tap the USD 1 trillion global chip market.

"The day is not far when the smallest chip made in India will drive the biggest change in the world," he said. "The day is not far when the world will say -- Designed in India, Made in India, Trusted by the World."

PM Modi was speaking at the inauguration of the 'Semicon India - 2025' conference, aimed at catalysing India's semiconductor ecosystem, here.

Noting the presence of semiconductor sector experts from across the globe, with representation from around 50 countries, Modi emphasized that India's innovation and youth power are also visibly present at the event. This unique combination, he said, sends a clear message -- "The world trusts India, the world believes in India, and the world is ready to build the semiconductor future with India".

Pitching for increased global investment in India's nascent semiconductor and microprocessor industry worth an estimated $50 billion today and projected to cross $100 billion by 2030 the Prime Minister declared, "The world is ready to build the semiconductor future with India." Stating that in the world of semiconductors, it is often said, 'Oil was black gold, but chips are digital diamonds, the Prime Minister said that while oil shaped the previous century, the power of the 21st century is now concentrated in the small chip. Although small in size, these chips have the potential to significantly accelerate global progress.

Modi said the global semiconductor market has already reached USD 600 billion and is expected to surpass USD 1 trillion in the coming years.