New Delhi: Prime Minister Narendra Modi has said that India is creating a robust semiconductor ecosystem, which will make the nation self-reliant and globally competitive.

Addressing the gathering after inaugurating the Semicon India – 2025 in New Delhi on Tuesday, Modi highlighted that the global semiconductor market has already reached six hundred billion dollars, and in the coming years, it is expected to surpass one trillion dollars.

Referring to US tariffs, Modi said India had achieved a 7.8 per cent GDP growth despite “challenges created by economic selfishness,” a pointed remark seen as a veiled dig at US President Donald Trump.

Trump recently imposed steep 50 per cent tariffs on Indian exports marking a sharp escalation in trade tensions.

Of that 50 per cent, the second round of 25 per cent duties, which took effect on August 27, targeted India over its continued purchase of Russian oil, which Washington claims is "funding" Moscow’s war in Ukraine.

Once again, India has performed better than every expectation, every assessment. At a time when there are concerns in world's economies, due to challenges created by economic selfishness, India has achieved a growth of 7.8 per cent," Modi said

The PM expressed confidence that India will hold a significant share in this global semiconductor market. The Prime Minister stated that India is building a comprehensive ecosystem which encompasses designing, manufacturing, packaging, and high-tech devices, all within the country. He said that India’s focus is to empower emerging technologies through chips manufactured domestically.

Modi said, the World trusts India, believes in India, and the World is ready to build the Semiconductor future with India. He welcomed all distinguished guests attending Semicon India and affirmed that they are important partners in India’s journey towards a developed and self-reliant nation.

Noting the presence of semiconductor sector experts from across the globe, with representation from over 40 to 50 countries, Modi emphasised that India’s innovation and youth power are also visibly present at the event.

Pointing to the GDP figures for the first quarter of this year, the Prime Minister said that once again, India has outperformed every expectation, every estimate, and every forecast.

He noted that while economies around the world are facing concerns and challenges driven by economic self-interest, India has achieved a growth rate of 7.8 per cent. Modi remarked that India’s rapid growth is infusing new energy across industries and among every citizen.

The three-day Conference began today, will focus on advancing a robust, resilient, and sustainable semiconductor ecosystem in the country.

It will feature sessions on the progress of the Semicon India Programme, smart manufacturing, innovations in Research and Development and artificial intelligence, investment opportunities, state-level policy implementation, among others.

The Prime Minister will also participate in CEOs roundtable on Wednesday.