New Delhi: Prime Minister Narendra Modi today said India had once again “outperformed every expectation, every estimate, and every forecast” with a gross domestic product (GDP) growth rate of 7.8 percent, even as major economies grappled with slowing demand and self-interest-driven challenges.
“This growth is visible across manufacturing, services, agriculture and construction. Enthusiasm is visible in every sector,” he said while addressing the ‘SEMICON India 2025’ here.
The robust economic momentum is fuelling confidence in new-age industries such as semiconductors. “Oil was black gold, but chips are digital diamonds. Oil determined the fate of the 20th century; today, the 21st century runs on chips,” Modi remarked.
“The world trusts India, the world believes in India, and the world is ready to build the semiconductor future with India,” he affirmed, noting that this trust is evident in record economic growth and rising global investments in the chip sector.
He pointed out that the global semiconductor market, currently valued at USD 600 billion, is projected to exceed USD 1 trillion in the coming years, and India is determined to secure a significant share.
Since the launch of the Semicon India programme in 2021, the country has approved its first semiconductor fabrication plan in 2023, followed by several more in 2024, and with additional approvals in 2025, a total of 10 projects have now been sanctioned.
“Our journey began late, but nothing can stop us now,” Modi asserted, citing the recent commencement of CG Power’s pilot plant, imminent operations at Kaynes, and test chip production by Micron and Tata. Commercial chip production will begin this year, he announced.
Highlighting India’s ease-of-doing-business reforms, Modi said speed is critical in this sector. “The lesser the paperwork, the sooner the wafer work can begin,” he said, noting that the National Single Window System now enables investors to secure clearances from both the Centre and States through a unified platform.
Plug-and-play semiconductor parks, connectivity infrastructure, skilled workforce availability and production-linked incentives have made India an attractive investment destination, he added.
The Prime Minister said India is no longer content with backend operations but is moving towards becoming a “full-stack semiconductor nation,” encompassing design, fabrication, packaging and high-tech device manufacturing.
He urged start-ups and MSMEs to participate actively, assuring support through the restructured Design Linked Incentive Scheme, the Chips-to-Startup Programme, and the newly launched National Research Fund.
Modi also drew a parallel between physical infrastructure and digital foundations, emphasizing the importance of critical minerals. He said India is advancing its National Critical Mineral Mission to ensure secure supplies for its semiconductor and digital infrastructure.
Reiterating the government’s long-term commitment, the Prime Minister said India’s policies are not “short-term signals” but structural reforms. “India has reached this stage by following the mantra of Reform, Perform, and Transform. A new phase of next-generation reforms will soon be initiated,” he announced.
Concluding his address, Modi said, “Design is ready. The mask is aligned. Now is the time for precision execution and delivery at scale. The day is not far when the world will say – Designed in India, Made in India, Trusted by the World.”
Minister of Electronics and Information Technology Ashwini Vaishnaw presented India’s first fully indigenous Vikram 32-bit processor to PM Modi during the event marking a step ahead towards a self-reliant India in the domain of Semiconductors.
Vikram 32-bit processor is developed by the Indian Space Research Organization’s Semiconductor Laboratory (SCL).
This computer chip is suitable for a range of strategic applications in sectors like aerospace, defence, automotive, and energy. This technology works with numbers that have decimals (like 3.14), and it is built using a 32-bit design.
This chip processes data in chunks of 32 bits at a time and is specially designed to handle extreme temperatures and environments.
Union Ministers Ashwini Vaishnaw and Jitin Prasada, Delhi Chief Minister Rekha Gupta, Odisha Chief Minister Mohan Charan Majhi, and top semiconductor industry leaders from different countries were present at the event.
UNI
