Modi Prioritizes Energy Chips Tech for 2047 Vision
Prime Minister Narendra Modi placed energy security, semiconductor manufacturing and advanced technology at the core of India’s growth plan while urging faster reforms as the nation aims to be a developed economy by 2047.
Energy push targets nuclear and offshore resources
Addressing the nation from the Red Fort on Independence Day, Modi linked rising electricity demand to chips, artificial intelligence and data centres. He said the country must secure the energy, technology and critical minerals needed to power a rapidly expanding economy.
In response to recent disruptions in West Asia, the prime minister set a goal of adding 100 gigawatts of nuclear capacity by 2047. He also announced an acceleration of offshore oil and gas exploration, noting that 99 percent of India’s coastline, previously a “no‑go” zone, is now open for survey and drilling.
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The government has earmarked ₹85,000 crore for the Samudra Manthan programme, which will fund deep‑water exploration to reduce reliance on imported fuels. Modi warned that the weaponisation of resources and strategic sea routes by some countries poses a risk to India’s economic security, making self‑reliance a strategic imperative.
Semiconductor and chip strategy expands domestic capacity
Modi said semiconductor production is essential for everything from medical equipment to transport, and that dependence on overseas supplies can halt global activity. Three semiconductor plants have already begun production, and he expects another five to eight to come online within the next seven to eight years.
Critical minerals also feature prominently in the plan. The prime minister highlighted ongoing exploration and new agreements with partner nations to secure supplies needed for the technology sector.
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He urged Indian firms to compete globally on cost, quality and scale, insisting that “zero‑defect precision manufacturing should become our identity.” The focus on domestic capabilities is intended to reduce vulnerabilities in global supply chains and build resilience across energy, minerals, chips and digital technologies.
The plan also targets the green economy.
Reform agenda and broader growth strategy
The seven‑fold growth strategy covers manufacturing; agriculture and food processing; technology and innovation; infrastructure and connectivity; defence; the green and blue economy; and India’s global capabilities. Under manufacturing, the plan calls for covering the entire value chain, from design to finished products.
