India's Semiconductor Industry: Late Entry but Soon to Achieve Self-Reliance and Export Goals

Union Home Minister Amit Shah highlighted India's robust entry into the semiconductor industry, despite being a bit delayed. He expressed confidence that the nation would soon achieve self-reliance and begin exporting semiconductors. Speaking at the Abhyudaya Madhya Pradesh Growth Summit, Shah commended the registration of 4.57 lakh MSMEs in the state within a year.

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Shah inaugurated industrial projects worth Rs 2 lakh crore, marking former Prime Minister Atal Bihari Vajpayee's 101st birth anniversary. He praised Vajpayee as a great orator and a leader committed to public welfare. Shah also paid respects to Pandit Madan Mohan Malviya and C Rajagopalachari on their respective anniversaries.

Investment Opportunities in Madhya Pradesh

The Union Minister emphasised Madhya Pradesh's strategic location, which reduces transportation costs, making it an attractive investment destination. He noted that the state's fertile land offers lucrative opportunities for investors. A multi-modal logistics park is being developed in Indore to attract companies nationwide to establish warehouses and hubs.

Shah lauded Chief Minister Mohan Yadav for organising regional investment conferences, stating that balanced regional development benefits both the public and investors. He compared this initiative to the Vibrant Gujarat investor summits started by PM Narendra Modi during his tenure as Gujarat's chief minister.

Economic Transformation and Development

Madhya Pradesh has transformed from a BIMARU state under Congress rule to a thriving economy under BJP leadership. Shah credited Shivraj Singh Chouhan for shedding the economically ailing tag and praised Mohan Yadav for further advancing development efforts with renewed vigour.

The state now excels in various sectors, including agriculture, food processing, pharmaceuticals, IT, and start-ups. Nearly half of these start-ups are led by women and girls. Infrastructure development is underway for textile and tourism industries, enhancing the ease of doing business.

India's Digital and Economic Advancements

Under PM Modi's leadership, India is laying a strong foundation in new areas to become a global leader. Shah highlighted India's foreign exchange reserves surpassing USD 700 billion and significant progress in digital transactions and fintech. In 2024-25, India accounted for 46% of global digital transactions.

Officials stated that projects worth over Rs 2 lakh crore, inaugurated by Shah, span industries like energy, tourism, health, and renewable energy. These projects are expected to create 1.93 lakh jobs. The Growth Summit attracted 25,000 beneficiaries and numerous entrepreneurs and investors.

Shah also inaugurated the Gwalior Fair and dedicated renovation work at the Atal Museum to the public. He concluded by noting that Madhya Pradesh is poised to become a hub for medium, small, and cottage industries through innovation and start-ups.

With inputs from PTI