India aims to become global semiconductor manufacturing hub, says PM Modi

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India aims to become global semiconductor manufacturing hub, says PM Modi



In his 98-minute speech—the longest he has delivered, surpassing his previous record of 96 minutes set in 2016—Modi highlighted the strength of Indian banks, attributing their global standing to significant reforms. “Just imagine what was the condition of our banking sector. There was no growth, no expansion, and there was no faith (in the banking system). Our banks were going through difficult times… We took big reforms to make the banking sector strong. Today, because of the reforms, our banks are among the few strong banks globally,” he said.Addressing the space sector, Modi praised the emergence of hundreds of start-ups, attributing this growth to major reforms. “Hundreds of start-ups have emerged in the space sector, making it vibrant and instrumental in building a stronger India. We have introduced significant reforms, liberating the space sector from its previous limitations,” the Prime Minister remarked.Modi also celebrated India’s indigenous design capabilities with the concept of “Design in India, Design for the World,” urging the creation of products for both domestic and international markets. He reiterated his commitment to making India the skill capital of the world, highlighting initiatives from Budget 2024 focused on youth training.On the topic of green jobs, Modi emphasized India’s efforts in combating climate change through green growth and the Green Hydrogen Mission. He noted that these initiatives would not only contribute to environmental protection but also generate employment opportunities. “Green jobs will play a crucial role in our fight against climate change,” Modi said, reaffirming India’s goal of becoming a global leader in green hydrogen production and sustainable employment.



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