Global Trust in India Is Growing Rapidly : PM Modi

New Delhi, September 17, 2026 Prime Minister Narendra Modi inaugurated SEMICON India 2026 at Yashobhoomi in New Delhi on Thursday, highlighting India’s expanding ambitions in the global semiconductor industry. The three-day conference is bringing together companies, investors, policymakers, researchers and startups to advance investment, innovation, collaboration and talent in the sector. Addressing the event, Modi said, “on one side India’s economy is growing and the other side, global trust in India is also growing.” He pointed to India’s 7.8 per cent growth despite a challenging global environment and noted that Japan’s credit rating agency had upgraded India’s sovereign rating. He said every citizen is working with a commitment to build a developed India and that the rapidly expanding semiconductor ecosystem is creating fresh opportunities for innovation, investment and growth. The Prime Minister said India is taking steps to emerge as a preferred destination for semiconductor manufacturing as the world searches for new and trusted production bases. He noted that chips manufactured in India are now reaching markets within the country and abroad, while commercial production has recently started at semiconductor plants in Mohali and Surat. Modi also highlighted the expansion of the India Semiconductor Mission 2.0, whose outlay has risen to $13.5 billion from $8 billion in the first phase. So far, 12 chip-making projects have been approved, with the next phase expected to add further projects. Modi also linked India’s semiconductor ambitions with its growing international standing, referring to the recently held BRICS Summit in New Delhi. He said the summit was successfully hosted and the New Delhi Declaration was adopted with the consensus of every member country, calling it another major testament to the world’s trust in India. Electronics and IT Minister Ashwini Vaishnaw said India’s decades-old effort to establish a semiconductor industry had become possible under Modi’s leadership. He said Semicon 2.0 would build the industry around six pillars, including chip design, machines and materials, memory, silicon, compound and logic fabrication, and research and development, with a target of supporting at least 200 startups and companies designing chips in India. Held under the theme “Silicon to Systems: Building the Ecosystem,” SEMICON India 2026 features more than 600 exhibitors, 300 international companies and delegations from over 50 countries. The event includes country pavilions from Japan, South Korea, Malaysia, the Netherlands, Singapore and Sweden, along with 12 state government pavilions and a dedicated Startup Pavilion. The gathering underscores the growing effort to connect India’s semiconductor ambitions with global industry, investment and technological capabilities.