New Delhi: Prime Minister Narendra Modi inaugurated SEMICON India 2026 on Thursday and said India is taking steps to become a preferred destination for semiconductor manufacturing.
Addressing the event, Modi said Indian chips are now reaching customers and stressed that the country should aspire to be among the early leaders in emerging technologies. He also asserted that the government is committed to creating a predictable and responsive policy environment.
“India Semiconductor Mission 2.0 expanded outlay to USD 13.5 billion from USD 8 billion in the first phase. So far, 12 chip-making projects have been approved; the next phase will see this increase further. The world needs new and trusted locations for chip manufacturing, and India is preparing itself for this,” he said.
The government approved Semicon 2.0 with an outlay of ₹1.275 lakh crore in July 2026. The programme is aimed at expanding India’s semiconductor design and manufacturing ecosystem, including fabrication, advanced packaging, equipment, materials, research and development and talent development.
PM Modi Highlights India’s Recent Economic and Manufacturing Progress
Reiterating the government’s commitment to a predictable and responsive policy environment, the Prime Minister said developments over the past 15 days demonstrate the pace at which India is progressing.
“If we look at just the past 15 days, it gives us an idea of the direction in which India is moving and the speed at which it is progressing,” Modi said.
He referred to the Global Fintech Fest held in Mumbai and discussions around agentic AI, tokenisation and quantum technology. He also highlighted the operationalisation of around 3,000 kilometres of dedicated freight corridors, saying this would accelerate movement across the country, improve logistics and strengthen manufacturing.
Indian Economy Expanding Rapidly, Says PM Modi
Citing first-quarter GDP growth, Modi said the Indian economy is expanding rapidly and claimed that global confidence in India is also increasing.
“India’s quarterly GDP report was released in September itself, and even during this challenging period, India achieved 7.8 per cent growth,” he said.
Modi also referred to a sovereign rating upgrade for India by a Japanese credit rating agency and cited the recently concluded BRICS Summit and adoption of the New Delhi Declaration as examples of growing international confidence in India.
India Focuses on Building Semiconductor Ecosystem
“From the manufacturing of various compound semiconductors to integrating silicon photonics into the ecosystem, all of this is essential for AI-enabling infrastructure, and we must move forward together in this direction,” the Prime Minister said.
He said the necessary foundation is already in place and that India is strengthening supply chains and implementing reforms to support the semiconductor sector.
Modi also urged equipment companies attending the event to take advantage of opportunities in India’s growing semiconductor ecosystem.
Under the Semicon India Programme, 12 semiconductor projects have been approved across six states with committed investments exceeding ₹1.64 lakh crore. Three of these projects have already commenced commercial production, according to the government.
SEMICON India 2026 Brings Global Semiconductor Industry Together
The theme of SEMICON India 2026 is “Silicon to Systems: Building the Ecosystem.” The event is being held from September 17 to 19 at Yashobhoomi in New Delhi and brings together stakeholders from across the semiconductor and electronics value chain.
The event features more than 600 exhibitors, including major global and Indian companies, along with policymakers, investors, researchers, startups and students. The government said the event is aimed at showcasing India’s growing capabilities across the semiconductor value chain.