India's Leap Forward: PM Modi Announces Landmark 'Made-in-India' Semiconductors Initiative

Prime Minister Narendra Modi, in a momentous Independence Day address from the Red Fort, announced a pivotal advancement in India's technological sector. By the end of this year, 'Made-in-India' semiconductor chips will hit the market, he declared, marking a substantial leap toward India's self-reliance in tech manufacturing.

Emphasizing a break from historical inefficiencies, PM Modi highlighted the approval of four new semiconductor units under the India Semiconductor Mission (ISM), with an investment of Rs 4,600 crore. These projects are strategically dispersed across Odisha, Andhra Pradesh, and Punjab, aiming to fortify India's position in the global semiconductor domain.

Furthermore, Modi underscored the strategic importance of critical minerals in sectors like energy and defense. The government has initiated the National Critical Minerals Mission, with Rs 1,345 crore allocated to boost India's rare earth magnets production. This move is part of a broader strategy to secure raw materials through diplomatic and international collaborations.

(With inputs from agencies.)