Prime Minister Narendra Modi on Tuesday hailed India’s resilient economic growth, even as many global economies face headwinds due to what he described as ‘economic selfishness’.
Speaking at the Semicon India 2025 conference in New Delhi, the Prime Minister said India achieved an impressive GDP growth rate of 7.8% in the April–June quarter, despite global challenges.
His remarks were seen as a veiled reference to US President Donald Trump’s tariff-centric trade policies, which many view as having contributed to global market uncertainty.
Without naming the US leader, PM Modi criticised ‘unilateral coercive measures’ that disrupt international cooperation and hinder global economic stability.
His comments came a day after the Shanghai Cooperation Organisation (SCO) issued a joint declaration opposing such protectionist actions.
The declaration, which India signed alongside countries such as China and Russia, called for strengthening a transparent, rules-based multilateral trading system.
Turning attention to India’s technological ambitions, PM Modi underlined the country’s determination to become a global semiconductor hub.
He emphasised that India is no longer confined to backend work but is building a comprehensive ‘full-stack’ ecosystem—from design and fabrication to testing and packaging.
“The world trusts India. The world believes in India. And the world is ready to build the semiconductor future with India,” he declared.
Moreover, PM Modi highlighted the recent commencement of CG Power’s pilot chip plant and the upcoming launch of Kaynes’ facility.
Indian firms like Micron and Tata have already begun producing test chips, and they expect to launch full-scale commercial chip manufacturing within the year.
The Prime Minister stressed the importance of speed and efficiency in the semiconductor industry.
He pointed out that India’s National Single Window System enables quicker project approvals, removing bureaucratic delays and allowing investors to begin work promptly.
He reiterated that the goal of India’s Semiconductor Mission goes far beyond building a single fabrication unit. It aims to create a robust, self-reliant ecosystem that can meet domestic and global demand alike.
PM Modi linked India’s economic momentum to its growing leadership in technology and innovation.
He further asserted that the country is on a clear trajectory to become the third-largest economy in the world.
“Our journey may have started later than others, but we’re moving faster now. Nothing can stop us,” he affirmed.
The Prime Minister concluded by reaffirming that India’s semiconductor story is not just about chips—it’s about laying the foundation for the country’s digital and economic future.
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