Leading industry body Assocham on 15 August 2025 expressed strong support for Prime Minister Narendra Modi's Independence Day address, saying the vision outlined by the Prime Minister instils robust confidence in Indian industry and the broader business community. The chamber described the speech as a comprehensive roadmap for economic transformation.

Sapta Dhara Framework and Economic Resilience

Assocham President Nirmal Kumar Minda said the Prime Minister's emphasis on self-reliance, the 'Vocal for Local' movement, domestic manufacturing, and strategic capabilities is highly significant for strengthening India's economic resilience. Minda specifically appreciated Modi's ambitious vision of transforming India into a developed economy by 2047, noting that the seven-stream 'Sapta Dhara' framework offers a broad-based approach to inclusive, sustainable, and accelerated development.

Nuclear Energy, Critical Minerals and Semiconductors

'Assocham welcomes the focus on critical minerals, semiconductors and reducing import dependence. The announcement of a 200 GW nuclear energy target and five new nuclear reactors marks an important step towards ensuring long-term energy security. A reliable and affordable energy ecosystem will be crucial for India's industrial expansion and competitiveness,' Minda said in a statement. This comes amid growing global competition for semiconductor supply chains and a domestic push to reduce dependence on energy imports.

AI Skilling and Youth Employability

Minda also welcomed the Prime Minister's focus on free online coaching and AI skilling for one crore young Indians, calling it particularly significant. He noted that India's greatest strength lies in its young population, and equipping youth with emerging-technology skills can meaningfully enhance productivity, employability, and innovation across sectors.

Fortune 500 Ambition and Global Trade

The Prime Minister's call for 50 Indian companies to enter the Fortune Global 500 and for an Indian bank to break into the world's top five was described by Assocham as a welcome shift towards building globally competitive enterprises. 'This will require deeper innovation, scale, capital access and ease of doing business,' Minda said. The chamber also backed the government's emphasis on free trade agreements (FTAs), deep-sea exploration, and expanding India's footprint in strategic sectors, arguing that greater market access and stronger global value-chain integration can open new avenues for Indian industry, MSMEs, and exporters.

Legal Reforms and Investment Climate

Assocham particularly appreciated the Prime Minister's call for modernising outdated laws, accelerating economic growth, and transforming work culture through greater efficiency and accountability. According to Minda, these reforms can lay the foundation for a more competitive, innovative, and investment-friendly India. The chamber's endorsement reflects broader industry optimism heading into the next phase of economic policy implementation.