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Prime Minister Narendra Modi said India’s economic growth and rising global confidence were visible across sectors, including semiconductors, fintech and logistics.
Speaking after inaugurating SEMICON India 2026, PM Modi said India recorded 7.8 per cent economic growth in the latest quarter despite a challenging global environment.
He pointed to developments over the past 15 days. These included the Global FinTech Fest in Mumbai, where experts discussed inclusive finance through agentic AI, tokenisation and quantum technology.
PM Modi highlighted the operationalisation of around 3,000 km of dedicated freight corridors. He said the network would accelerate cargo movement, strengthen logistics and provide fresh momentum to manufacturing.
On semiconductors, PM Modi said India’s chip industry was gathering pace. He stated, “India’s chips will go out to the world.”
Prime Minister Modi cited a sovereign rating upgrade by a credit rating agency as another sign of growing international confidence in India’s economy.
He referred to the recent BRICS Summit hosted by India, where members adopted the New Delhi Declaration by consensus. He described the development as another indication of international confidence in the country.
Union Electronics and IT Minister Ashwini Vaishnaw said Semicon 2.0 would strengthen India’s semiconductor ecosystem across six pillars: chip design, machines and materials, fabs, advanced packaging, research and development, and talent.
He said more than 105 startups joined the first phase of the semiconductor programme, with around 20 securing nearly Rs 800 crore in venture capital funding.
Under Semicon 2.0, the government aims to support at least 200 chip-design startups and companies.
India has trained 70,000 design engineers in four years against its initial 10-year target of 85,000. More than 400 universities now have access to electronic design automation tools.
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