New Delhi, Sept 2026 : Prime Minister Narendra Modi on Thursday said India’s economic growth and increasing global confidence in the country were being reflected through developments across key sectors, including semiconductors, fintech and logistics.
Addressing the inauguration of SEMICON India 2026 in New Delhi, Modi said India had recorded 7.8 per cent economic growth in the latest quarter, despite what he described as a challenging global economic environment.
The Prime Minister pointed to several developments over the past 15 days as indicators of India’s expanding economic and technological capabilities. He cited the Global FinTech Fest in Mumbai, where discussions focused on expanding financial inclusion through emerging technologies such as agentic artificial intelligence, tokenisation and quantum technology.
Modi also highlighted the operationalisation of around 3,000 km of dedicated freight corridors, saying the infrastructure would significantly improve the movement of goods across the country.
According to the Prime Minister, the freight corridors would help reduce logistics constraints, accelerate transportation and provide additional momentum to the manufacturing sector. He linked these developments to India’s broader efforts to strengthen infrastructure and build domestic production capabilities.
Turning to the semiconductor industry, Modi said India’s chip ecosystem was gaining momentum and expressed confidence that domestically produced semiconductor products would increasingly find markets globally.
“India’s chips will go out to the world,” he said, underlining the government’s emphasis on developing indigenous capabilities across the semiconductor value chain.
The Prime Minister also referred to a recent sovereign rating upgrade for India by a global credit rating agency, saying it reflected increasing international confidence in the country’s economic prospects.
He cited the recently held BRICS Summit in India as another indication of the country’s growing international standing. Modi said the adoption of the New Delhi Declaration by consensus demonstrated confidence among participating countries in India’s ability to facilitate multilateral cooperation.
Meanwhile, Union Electronics and Information Technology Minister Ashwini Vaishnaw outlined the government’s plans under Semicon 2.0, saying the programme would develop India’s semiconductor ecosystem around six key pillars: chip design, machinery and materials, fabrication plants, advanced packaging, research and development, and skilled talent.
Vaishnaw said more than 105 startups had participated in the first phase of India’s semiconductor programme, with around 20 of them securing venture capital funding totalling approximately ₹800 crore.
Under Semicon 2.0, the government aims to support at least 200 chip-design startups and companies, further expanding domestic capabilities in the sector.
The minister also said India had trained 70,000 design engineers in four years, against an initial target of 85,000 engineers over 10 years. More than 400 universities across the country now have access to electronic design automation tools, he added.
The announcements at SEMICON India 2026 underline the government’s focus on strengthening semiconductor manufacturing, design and research while integrating these capabilities with India’s broader digital and industrial growth strategy.
