New Delhi: Prime Minister Narendra Modi on Tuesday highlighted India’s robust GDP growth of 7.8 per cent in the April-June quarter, despite global market challenges stemming from “economic selfishness.” His remarks were seen as a veiled reference to US President Donald Trump’s tariff policy, which has heightened economic uncertainty worldwide.

Addressing the SEMICON 2025 event, PM Modi said, “On the one hand, many of the world’s economies are facing uncertainty and challenges related to economic selfishness. Yet, in this environment, Bharat has achieved a remarkable growth rate of 7.8 per cent.”

The Prime Minister’s comments followed the Shanghai Cooperation Organisation (SCO) summit, where member countries opposed unilateral coercive measures, including economic sanctions that violate international law and disrupt global trade. Attended by Modi, Chinese President Xi Jinping and Russian President Vladimir Putin, the summit reaffirmed support for an open, transparent, fair and multilateral trading system.

PM Modi stressed that India is emerging as a full-stack semiconductor nation, moving beyond backend operations. He said India’s smallest chip will soon drive global change. Pilot plants by CG Power and Kaynes have recently begun operations, while test chips from Micron and Tata are already in production. Commercial chip production is expected to start later this year.

Highlighting India’s comprehensive semiconductor ecosystem, Modi explained that the country is developing capabilities in design, manufacturing, packaging and high-tech devices domestically. He added that the Semiconductor Mission is intended to establish a self-reliant, globally competitive industry, rather than focus on a single fab or chip.

The Prime Minister emphasised the need for speed in the sector, stating, “The shorter the time from file to factory, and the lesser the paperwork, the sooner wafer work can begin.” He cited the National Single Window System, which consolidates approvals from the Centre and states on a single platform, reducing bureaucratic delays and encouraging investment.

Modi concluded that India’s rapid growth is energising industries and citizens alike, propelling the nation towards becoming the third-largest global economy.

TAGS

Google News Add as a preferred source on Google
The comments posted here/below/in the given space are not on behalf of Onmanorama. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.