Govt working on new generation of reforms : Modi
By Sunil Kumar Batra
New Delhi, Sep 2 (BVI): The government is working on the “next-generation of reforms”, Prime Minister Narendra Modi said here today and invited domestic and global investors to infuse funds.
“India’s policies are not short-term signals but long-term commitments,” he said and assured investors that their every need will be met.
Inaugurating ‘Semicon India – 2025’, aimed at catalysing India’s Semiconductor ecosystem, the PM highlighted the economic growth of 7.8 per cent achieved during the first quarter of current financial year and said India has outperformed every expectation, every estimate and every forecast.
While economies around the world are facing concerns and challenges driven by economic self-interest, India has achieved a growth rate of 7.8 per cent, he said.
This 3-day Semicon India is being attended by the CEOs and experts in the semiconductor industry from across the globe.
India’s rapid growth is infusing new energy across industries and among every citizen, Modi said, adding that this trajectory of growth is propelling the country swiftly towards becoming the third largest economy in the world.
“India has reached this stage by following the mantra of Reform, Perform, and Transform. A new phase of next-generation reforms will soon be initiated, Modi said.
Expressing India’s readiness to welcome global investors and CEOs with an open heart, the Prime Minister said, “Design is ready. Mask is aligned. Now is the time for precision execution and delivery at scale”.
He predicted that semiconductors will be the future of economic growth.
In the world of semiconductors, it is often said, ‘Oil was black gold, but chips are digital diamonds’, Modi said.
“The World trusts India, the World believes in India and the World is ready to build the Semiconductor Future with India,” he said.
The global semiconductor market has already reached USD 600 billion, and in the coming years, it is expected to surpass USD 1 trillion.
The Prime Minister expressed confidence that, given the pace at which India is advancing in the semiconductor sector, India will hold a significant share in this USD 1 trillion market.
Modi appreciated the speed at which India is progressing in the sector. He recalled that in 2021, the Semicon India programme was launched.
He added that by 2023, India’s first semiconductor plant had been approved, in 2024, several more plants received approval and in 2025, five additional projects were cleared.
He further stated that in total, ten semiconductor projects are now underway, involving an investment of over eighteen billion dollars —more than Rs 1.5 lakh crore. The Prime Minister emphasized that this reflects the growing global trust in India. (BVI)
