Global Confidence in India Has Increased - PM Modi

Prime Minister Narendra Modi said India’s successful hosting of the BRICS Summit has strengthened global confidence in the country. He said India is now placing a strong focus on semiconductor manufacturing. Recalling the Global FinTech Fest held in Mumbai recently, the Prime Minister said discussions there covered artificial intelligence, tokenisation and quantum technologies. He said SEMICON India 2026 is now being held in New Delhi, reflecting India’s efforts to expand its capabilities in the semiconductor sector. The three-day event is being held at Yashobhoomi from September 17 to 19.

Modi said the objective is to develop India into a global hub for semiconductor manufacturing. He noted that India’s economy continues to show growth despite global economic uncertainties and headwinds. Official data shows that India’s real GDP grew 7.8% in the first quarter of FY2026-27. The government is working to build a comprehensive semiconductor ecosystem spanning chip design, manufacturing, advanced packaging, materials, electronics and systems.