Independence Day: PM Modi puts self-reliance, energy security, chips, tech at centre of developed India push

On India's 80th Independence Day, Prime Minister Narendra Modi emphasized the importance of self-reliance, energy security, and advancements in technology such as semiconductors to ensure the country's development by 2047. Modi highlighted the need for energy security, particularly in the era of chips, artificial intelligence (AI), and data centres, which require reliable and massive energy supply.

He urged Indian companies to aim for a top global ranking and encouraged micro, medium, and small enterprises (MSMEs) to take advantage of free-trade agreements (FTAs) for market access. The Prime Minister outlined a seven-point growth framework, 'Sapt Dhara,' focusing on manufacturing, agriculture, technology, infrastructure, defence, green and blue economy, and India's soft power.

Self-reliance, especially in manufacturing, has been a long-standing theme for the Modi government amid various global crises. Despite potential cheaper imports, Modi argued that relying on foreign goods doesn't build India's capabilities and protect its interests. He also pointed out that the world seems to have ceased discussing globalisation, as many nations now prioritize addressing their specific challenges.

However, some countries have engaged in weaponizing resources, including territory, for dominance. Modi mentioned the closure of the Strait of Hormuz, crucial for India's oil, gas, and LPG imports, to underscore the growing importance of energy security. He announced the passing of the SHANTI Act, setting a goal of 100 gigawatts of nuclear power by 2047, with plans to start five new nuclear reactors within the decade.

The government has also opened up 99% of its coastline for offshore oil and gas exploration, aiming to discover new reserves and invest ₹85,000 crore in Samudra Manthan. In the semiconductor sector, Modi stressed the necessity of self-reliance due to the critical role of chips in modern technology. He disclosed that three major plants have already started production, with exports underway, and another five to seven plants expected to begin operations soon under 'Aatmanirbhar Bharat.'