India to build 5-8 new semiconductor plants by 2034

Prime Minister Narendra Modi announced on Saturday that India plans to construct five to eight new semiconductor plants over the next seven to eight years, a move aimed at strengthening domestic chip manufacturing as a cornerstone of the nation's self-reliance and development strategy. Addressing the nation from the Red Fort on the 80th Independence Day, August 15, 2026, Modi highlighted that India's semiconductor journey has already begun to yield tangible results, with three major facilities now operational and exporting their products.

Modi stated that the expansion of chip production represents a "great highway towards building a developed India." He emphasized that semiconductors have become indispensable for modern technology, powering everything from electronic goods and medical equipment to transportation systems. "Without them, the world would come to a standstill," he warned, underscoring the strategic importance of securing domestic supply chains in an era of global disruptions.

The announcement builds on significant progress already made under the government's Semicon India Programme. Semicon 1.0, approved in December 2021 with an outlay of Rs 76,000 crore, has led...