New Delhi: Prime Minister Narendra Modi Thursday said India’s economic growth and rising global confidence in the country were reflected in developments across sectors, including semiconductor, fintech and logistics.
After inaugurating SEMICON India 2026 here, PM Modi said India recorded 7.8 per cent economic growth in the latest quarter despite a challenging global environment.
He cited developments over the past 15 days, including the Global FinTech Fest in Mumbai, where discussions focused on inclusive finance through agentic AI, tokenisation and quantum technology, and the operationalisation of around 3,000 km of dedicated freight corridors.
On semiconductors, PM Modi said India’s chip industry was gaining momentum and that ‘India’s chips will go out to the world’.
The freight corridors would accelerate movement across the country, improve logistics and provide fresh impetus to manufacturing, PM Modi added.
In addition, he cited a sovereign rating upgrade for India by a credit rating agency and said the development reflected growing global confidence in the Indian economy
Referring to the recent BRICS Summit hosted by India, PM Modi said the adoption of the New Delhi Declaration by consensus was another indication of international confidence in India.
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Meanwhile, Union Electronics and IT Minister Ashwini Vaishnaw said Semicon 2.0 would build India’s semiconductor ecosystem around six pillars — chip design, machines and materials, fabs, advanced packaging, research and development and talent.
The minister further noted that more than 105 startups had participated in the first phase of the semiconductor programme with about 20 securing venture capital funding of around Rs 800 crore.
Under Semicon 2.0, the government aims to support at least 200 chip-design startups and companies.
He said India had trained 70,000 design engineers in four years against an initial 10-year target of 85,000. More than 400 universities across the country now have access to electronic design automation tools, he said.
