Daijiworld Media Network - New Delhi

New Delhi, Sep 17: Prime Minister Narendra Modi on Thursday inaugurated SEMICON India 2026 and said India is moving towards becoming a preferred destination for semiconductor manufacturing, with chips manufactured in the country now reaching customers.

Addressing the event, Modi said India Semiconductor Mission 2.0 has expanded the government’s semiconductor push, with 12 projects approved so far. The Union Cabinet approved Semicon 2.0 in July with an outlay of Rs 1.275 lakh crore, aimed at further developing India’s semiconductor design and manufacturing ecosystem.

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

The Prime Minister highlighted developments in the first half of September, including the Global Fintech Fest in Mumbai and the operationalisation of around 3,000 km of dedicated freight corridors. He said the expansion of freight infrastructure would improve logistics and provide further support to manufacturing.

Referring to India’s economic performance, Modi said the country recorded 7.8 per cent GDP growth in the first quarter of 2026-27. The government has reported that real GDP grew 7.8 per cent during the quarter, while the Japan Credit Rating Agency upgraded India’s sovereign rating from BBB+ to A- with a stable outlook earlier this month.

Modi also referred to the recently concluded BRICS Summit and the adoption of the New Delhi Declaration by consensus as another indication of international confidence in India.

SEMICON India 2026 is being held from September 17 to 19 at Yashobhoomi in New Delhi. The fifth edition has the theme ‘Silicon to Systems: Building the Ecosystem’ and brings together companies, policymakers, investors, researchers, startups and students from across the semiconductor and electronics ecosystem.