SEMICON India 2026: PM Modi hails India’s semiconductor journey, says ‘ecosystem expanding, opening new opportunities'

Prime Minister Narendra Modi on Thursday hailed the progress India has made in semiconductors and said that the country has entered the second phase of its semiconductor journey. Speaking at the inauguration of SEMICON India 2026, the PM said that the semiconductor ecosystem is expanding rapidly, opening new opportunities for innovation, investment and growth.

India entering next phase: Modi

The world needs new and trusted locations for chip manufacturing, and India is preparing itself for this, he said.

India is taking all measures to become a preferred destination for semiconductor manufacturing, he further said.

Quick answers to key questions

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PM Modi announced that India is in the second phase of its semiconductor journey, highlighting the approval of 12 chip-making projects and an expanded budget for the India Semiconductor Mission 2.0, now totaling USD 13.5 billion.

India aims to establish itself as a trusted location for semiconductor manufacturing to enhance global supply chains and take advantage of growing technological demands and investment opportunities in the sector.

The event is expected to attract around 50,000 visitors, including representatives from 52 countries and over 600 participating companies.

Yes, as India ramps up its semiconductor capabilities and support structures, including training programs for engineers and significant funding opportunities, it presents a favorable environment for startups to engage in the sector.

This value chain experience showcases the entire semiconductor ecosystem, illustrating the journey from basic materials to advanced manufacturing and packaging, highlighting India's emerging strengths in technology.

So far, 12 chip-making projects have been approved, and the next phase will see the numbers increase further, the PM noted.

India Semiconductor Mission 2.0 expanded outlay to USD 13.5 billion from USD 8 billion in the first phase, he said, adding, "Be it policies, regulatory framework...whatever is needed for you (manufacturers) to succeed, government is taking all steps and efforts to ensure that."

‘India has already laid critical groundwork’

"India's economy is growing... The world's trust in India is also growing...If we look at just the past 15 days, it gives us an idea of the direction in which India is moving and the speed at which it is progressing. Just 10 days ago, the Global Fintech Fest was held in Mumbai. Discussions there focused on inclusive finance through agentic AI, tokenisation and quantum technology,” the PM said.

Modi also highlighted that India has already laid the critical groundwork required to support cutting-edge semiconductor technologies and future-ready digital infrastructure, especially at a time when supply chains were being weaponized.

"When a country like ours succeeds in a critical industry, it strengthens the global supply chain—a fact that has become even more significant at a time when supply chains are being weaponized. We should view these transformations taking place in India through this broader perspective," the Prime Minister said.

‘World needs new manufacturing hubs’

"The semiconductor industry is facing numerous challenges. Amidst these challenges, the world is in dire need of new and reliable manufacturing hubs, and I say this with full responsibility. I assure you that India is continuously preparing itself for this role...India is also emphasising the strengthening of supply chains and has implemented several reforms to achieve this," he added.

Emphasising the Centre's proactive efforts in building resilient global supply networks, PM Modi underscored that extensive policy reforms have been executed to make India an attractive hub for end-to-end chip design, manufacturing, and assembly.

"From the manufacturing of various compound semiconductors to integrating silicon photonics into the ecosystem, all of this is essential for AI-enabling infrastructure, and we must move forward together in this direction. The necessary foundation for this has already been laid," he said.

Making a direct pitch to global semiconductor equipment and component suppliers attending the conclave, the Prime Minister added, "I urge the leaders of equipment companies present here not to miss these opportunities."

"Our government has set a target to train 1 lakh engineering students for the semiconductor industry, and we have already trained over 70,000 of them... I call upon the youth—whether they are conducting research in India or abroad—to come forward and participate in the development of advanced technology here," he added.

Underscoring India's growing stature in international diplomacy and high-tech manufacturing, Prime Minister Narendra Modi on Thursday said that the consensus adoption of the 'New Delhi Declaration' at the recently concluded BRICS Summit stands as firm evidence of the nation's soaring global credibility.

'Global confidence in India is strengthening'

"India successfully concluded the BRICS Summit. The adoption of the New Delhi Declaration with everyone's support is one more piece of evidence of India's global credibility. And SEMICON India being held amid such major achievements is another significant milestone," Prime Minister Modi said.

The Prime Minister emphasised that global confidence in India is strengthening across strategic domains, from building consensus on complex international platforms to establishing trusted and resilient supply chains in mission-critical sectors like semiconductors.