Made-in-India chips will hit the market by 2025-end: PM Modi
What's the story
Prime Minister Narendra Modi has announced that India will launch its own semiconductor chips by the end of 2025. The announcement was made during his Independence Day address at the Red Fort, where he hoisted the national flag for the 12th consecutive time. He said that while the idea of establishing semiconductor manufacturing plants was proposed decades ago, it never materialized.
Mission mode
We are working on semiconductors on mission mode: PM Modi
PM Modi stressed that India is now working in "mission mode" to change the narrative. He said, "We are working on semiconductors on Mission Mode... By the end of 2025, Made in India semiconductor chips, made by the people in India, will hit the market." The Prime Minister described this century as a "technology-driven century," emphasizing that nations excelling in technology would be more successful.
Energy self-reliance
Link between semiconductors and India's clean energy goals
PM Modi also linked the semiconductor push to India's larger goal of becoming self-reliant in energy. He said the government is taking steps in solar, hydrogen, and nuclear power to strengthen clean energy capacity. The Prime Minister noted that India has already achieved a 50% share of clean energy five years ahead of its original 2030 target.
Employment scheme
PM Modi announces new youth employment scheme
Along with the semiconductor announcement, PM Modi also unveiled a new youth employment scheme with an investment of ₹1 trillion. The initiative is aimed at boosting job creation for young people across the country. The Prime Minister also spoke about tax reforms and revealed plans to roll out the next generation of Goods and Services Tax (GST) changes by Diwali this year.