India strengthens domestic capabilities in semiconductors

Prime Minister Narendra Modi said India is pursuing a mission-mode approach to develop domestic capabilities in critical minerals and semiconductors, stressing that the country cannot afford to remain dependent on foreign nations in areas linked to economic and strategic security.

Addressing NDA constituents in New Delhi, Modi said securing supply chains for critical minerals and building a robust semiconductor ecosystem have become national priorities as India seeks to strengthen its position in an increasingly competitive global landscape.

Modi asserted that the government would continue to accelerate policy decisions aimed at strengthening India’s economic foundations and strategic capabilities.

“Today, I will reassure the nation again that this series of major decisions in the national interest will accelerate even further. We will move forward at a rapid pace,” he said.

The Prime Minister reiterated his government’s commitment to ensuring that those who have recently moved out of poverty and entered the middle class do not lose the gains they have achieved.

“I believe that we must not let those who were poor yesterday, and have now become the ‘neo middle class’, slip back. Therefore, as a government and as public representatives, we must work day and night,” Modi said.

Highlighting the NDA government’s achievements over the past decade, Modi pointed to advancements in infrastructure, digital connectivity, defence exports, renewable energy and manufacturing. He said India had transformed from being counted among the “Fragile Five” economies to becoming one of the world’s fastest-growing major economies.

“The country witnessed the pace of development when intent, policy and decision-making align and work in unison,” he said, citing the expansion of airports, expressways, metro rail networks, internet connectivity and domestic manufacturing capabilities since 2014.

The Prime Minister also underlined India’s economic resilience amid global challenges, including the Covid-19 pandemic, noting that the country continued to post strong growth while several major economies faced headwinds.

“This era has repeatedly demonstrated the benefits of having a stable government,” Modi said, adding that India’s economy grew 7.7% in 2025-26.

On measures aimed at supporting the middle class, Modi highlighted tax reforms, infrastructure development and initiatives to boost employment and entrepreneurship.

“Today, income up to Rs 12 lakh is completely tax-free. The country now boasts a simplified tax system, and a robust infrastructure has made life easier,” he said.

The Prime Minister also defended several landmark decisions taken during his tenure, including the abrogation of Article 370, the women’s reservation law, the legislation against triple talaq, One Rank One Pension, the Citizenship Amendment Act and counter-terror operations. NDTV Profit