PM Modi Calls Semiconductor Manufacturing Foundation of India’s 21st Century Progress

Prime Minister Narendra Modi has underlined the strategic importance of semiconductor manufacturing in India’s journey toward becoming a developed nation. Addressing a virtual ceremony on February 21, 2026, for the foundation stone of India Chip Pvt Ltd, a collaboration between HCL Group and Foxconn, Modi stated that “Developed India will be built only when India is self-reliant. For this, Made in India chip is very important.”

He recalled how the global semiconductor shortage during the Covid-19 pandemic disrupted industries worldwide, reinforcing the need for domestic production. The new facility is expected to generate over 3,500 direct and indirect jobs, strengthen local supply chains, and attract ecosystem partners across the semiconductor value chain. Modi stressed that India’s technological initiatives in this decade will form the foundation of its capabilities in the 21st century.

Key Highlights

• Event: Foundation ceremony of India Chip Pvt Ltd
• Partnership: Joint venture between HCL Group and Foxconn
• PM’s Statement: Self-reliance in chips vital for a developed India
• Economic Impact: 3,500+ jobs, local supply chain development
• Strategic Vision: Position India as a global semiconductor hub

Sources: The Times of India, MSN, Business Standard