Prime Minister Narendra Modi underscored India&rsquo;s strong economic performance while indirectly criticising tariff-driven disruptions in global trade. Speaking at the SEMICON 2025 event, he highlighted India&rsquo;s 7.8% GDP growth in the April-June quarter despite global uncertainty triggered by protectionist measures.
The remarks came against the backdrop of the Shanghai Cooperation Organisation (SCO) summit, where member nations, including India, China, and Russia, adopted a joint declaration rejecting unilateral economic coercion and backing a multilateral, rules-based trading system.
Modi emphasised that India is rapidly emerging as a full-stack semiconductor hub, moving beyond backend operations to chip design, manufacturing, and advanced packaging. Recent milestones include the launch of CG Power&rsquo;s pilot plant, the upcoming Kaynes facility, and test chip production by Micron and Tata. Commercial production is expected to begin within the year.
The Prime Minister highlighted that India&rsquo;s semiconductor strategy extends beyond building a single fabrication unit to establishing a robust ecosystem that ensures self-reliance and competitiveness in the global market. He stressed that India&rsquo;s rapid economic growth is energising industries and citizens alike, propelling the nation towards becoming the world&rsquo;s third-largest economy.
With streamlined approvals through the National Single Window System, the government aims to accelerate investments and reduce bureaucratic delays, ensuring faster progress in critical sectors like semiconductors.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed]
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At SEMICON 2025, Modi links India’s growth with tariff-free, fair global trade system

PM Modi Targets Tariffs, Backs India Growth

At SEMICON 2025, Modi links India’s growth with tariff-free, fair global trade system

September 2, 2025 | 19:16 IST