Prime Minister Narendra Modi, while inaugurating the Semicon India 2025 event, stated that the world is ready to partner with India to build the future of the semiconductor industry. He expressed confidence that India's smallest chip would soon drive the world's biggest change.
Addressing the summit, PM Modi remarked, "The world trusts India. The world believes in India. The world is ready to build the semiconductor future with India. In the semiconductor world, oil is often called black gold, while chips are considered digital diamonds."
He highlighted that India's efforts are not confined to chip manufacturing but are focused on building a comprehensive ecosystem to make the country globally competitive and 'Atmanirbhar' (self-reliant). "Our semiconductor effort is not limited to chip manufacturing; we are building an ecosystem that will make India globally competitive and Atmanirbhar," he said.
He further added, "India is now moving beyond the backend to become a full-stack semiconductor nation. The day is not far when India's smallest chip will drive the biggest change in the world. Our journey started late, but nothing can stop us now..."
PM Modi also commented on India's recent economic performance, noting, “A few days ago, the GDP numbers for the first quarter of this year were released. Once again, India has performed better than every expectation and estimate... India has achieved 7.8 per cent growth, and this growth is visible across all sectors.”
Highlighting the importance of chips in the 21st century, he said, "Oil shaped the last century, and the fate of the world was tied to oil wells. But in the 21st century, power is concentrated in the small chip. Though tiny, the chip has the strength to drive the world’s progress at great speed. That is why the global semiconductor market, which is already at 600 billion dollars, will cross 1 trillion dollars in the coming years. With the way India is growing, the country is going to hold a significant share in this 1-trillion-dollar market."
The conference, which runs from September 2 to 4, has drawn more than 20,750 people. This includes 2,500 delegates from over 48 countries, 150 well-known speakers, and more than 350 exhibitors. This summit comes after Prime Minister Modi's latest trip to Japan, during which he visited Tokyo Electron Miyagi Ltd, a well-known Japanese company that makes semiconductors.
During his visit, he highlighted how India's growing semiconductor manufacturing industry can work well with Japan's strong position in the field and saw this as an important area for working together between the two countries. Industry experts say India's semiconductor market is expected to grow a lot, reaching between $100 billion and $110 billion by 2030.
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An official statement from Sunday mentioned industry guesses, saying the Indian semiconductor market was around $38 billion in 2023 and is expected to be between $45 and $50 billion by 2024-2025. The global semiconductor market, which is now worth about $600 billion, is likely to reach over $1 trillion in the near future.
Taiwan is a major leader in making semiconductors, creating more than 60pc of the world's total, and almost 90pc of the most advanced types. Because of this focus on making chips in one place, countries like the United States, European Union, Japan, and South Korea have started making plans to strengthen their own chip production and lessen their dependence on just one area. India's expanding market is ready to take a big part of the expected $1 trillion global market.
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