Prime Minister Narendra Modi inaugurated SEMICON India 2026 and highlighted India’s progress in semiconductors, fintech and logistics. He cited 7.8 per cent economic growth in the latest quarter, while Electronics and IT Minister Ashwini Vaishnaw outlined Semicon 2.0 plans to expand chip design, fabs, packaging, R&D and talent.
Key Highlights:
- PM Modi highlighted 7.8% economic growth in the latest quarter.
- India’s semiconductor sector is gaining momentum, with chips aimed for global markets.
- Semicon 2.0 will focus on six pillars of the semiconductor ecosystem.
- Over 105 startups participated in the first semiconductor programme.
New Delhi, Sept 17: Prime Minister Narendra Modi on Thursday highlighted India’s growing progress across the semiconductor, fintech and logistics sectors while inaugurating SEMICON India 2026. He said the country’s economic growth and increasing global confidence were reflected in developments across these sectors. India recorded 7.8 per cent economic growth in the latest quarter, despite what he described as a challenging global environment.
Highlighting developments over the past 15 days, PM Modi referred to the Global FinTech Fest in Mumbai, where discussions covered inclusive finance through agentic AI, tokenisation and quantum technology. He also pointed to the operationalisation of around 3,000 km of dedicated freight corridors, saying these would accelerate the movement of goods, improve logistics and provide fresh momentum to manufacturing.
On semiconductors, Modi said India’s chip industry is gaining momentum and emphasised the country’s ambition to become an important global player in chip manufacturing and supply. He also cited a recent sovereign rating upgrade by a credit rating agency as a reflection of growing confidence in the Indian economy. Referring to the BRICS Summit hosted by India, he said the consensus adoption of the New Delhi Declaration was another indication of international confidence in the country.
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. More than 105 startups participated in the first phase of the semiconductor programme, with around 20 securing venture capital funding of approximately Rs 800 crore. Under Semicon 2.0, the government aims to support at least 200 chip-design startups and companies. Vaishnaw also said 70,000 design engineers had been trained in four years, while more than 400 universities now have access to electronic design automation tools.
SEMICON India 2026 showcased India’s expanding semiconductor ecosystem alongside developments in fintech, logistics, manufacturing and technology talent.
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