Prime Minister Narendra Modi inaugurated SEMICON India 2026 at Yashobhoomi, underscoring the nation's strategic push to become a significant player in the global semiconductor industry. During his address, Mr Modi highlighted India's appeal as an electronics manufacturing hub, particularly in the context of what he described as the "weaponisation" of supply chains globally. He asserted that India's success in this critical sector would yield benefits for the entire world.

In a significant announcement, the Prime Minister confirmed the establishment of two new semiconductor manufacturing facilities. These plants are slated for development in Surat and Mohali, marking a tangible expansion of India's domestic chip production capabilities. Concurrently, Mr Modi declared the launch of the second phase of India's semiconductor mission, signalling a renewed and intensified commitment to fostering a robust indigenous semiconductor ecosystem.

The Prime Minister also referenced the New Delhi Declaration, which was adopted during the BRICS Summit in 2026. This mention underscored India's growing influence and collaborative efforts on the international stage, aligning its economic ambitions with broader geopolitical strategies.

Mr Modi further articulated his belief that global confidence in India, or Bharat, is on the rise. He supported this assertion by citing the nation's economic performance, specifically noting a 7.8% growth rate in the September quarterly GDP report. This economic indicator was presented as evidence of India's increasing credibility and attractiveness as an investment and manufacturing destination.

India's renewed focus on semiconductor manufacturing is part of a broader national strategy to enhance self-reliance and secure its position in the critical technology supply chain. The government's initiatives aim to attract both domestic and international investment, foster innovation, and develop skilled labour to support the burgeoning industry.