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Investing.com-- India’s Prime Minister Narendra Modi said in his Independence Day address that India’s first domestically manufactured semiconductor chip will reach the market by year-end, underscoring the government’s push for technological self-reliance amid global tariffs.
He also reiterated the country’s need to become self-reliant in energy and critical minerals to support strategic industries.
The announcement builds on recent policy momentum, as the Union Cabinet earlier this week approved four new semiconductor manufacturing projects worth around ₹4,600 crore under the India Semiconductor Mission.
Among the investors are global giants such as U.S. chipmaker Intel and Lockheed Martin.
Six additional plants are also reportedly under construction in states such as Gujarat, Assam, and Uttar Pradesh. Recently, Union IT Minister Ashwini Vaishnaw said these facilities will soon yield India’s first “Made-in-India” chip.
These moves come amid U.S. tariff pressures, with India aiming to fortify domestic semiconductor and critical mineral supply chains. U.S. President Donald Trump has imposed a total of 50% tariff on Indian imports, 25% of which were cited to India’s purchase of Russian Oil.
In a bid to become self-reliant in the energy sector, Modi said India will begin a "national deep-water exploration" mission.