Did PM Modi Critique Trump’s Tariff Strategy Amid India’s Economic Growth?

New Delhi, Sep 2 (NationPress) Prime Minister Narendra Modi on Tuesday emphasized India's impressive GDP growth during the April-June quarter, navigating through global market challenges stemming from economic selfishness.

His comments come as a response to the tariff chaos ignited by US President Donald Trump's policies, which have contributed to increased economic uncertainty worldwide.

While addressing the SEMICON 2025 event, PM Modi remarked, “While many global economies grapple with uncertainty and challenges due to economic selfishness, Bharat has attained a remarkable growth rate of 7.8 percent in this scenario,” he stated.

The Prime Minister's subtle reference to Trump's tariff policy coincided with the recent joint declaration from the Shanghai Cooperation Organisation (SCO) leaders, who condemned “unilateral coercive measures, including economic ones, that conflict with the UN Charter and other international legal norms, harming international security, including food and energy security, negatively impacting the global economy, undermining fair competition, and obstructing international cooperation towards achieving the UN Sustainable Development Goals,” as stated in their declaration.

The SCO summit, featuring Prime Minister Modi alongside Chinese President Xi Jinping and Russian President Vladimir Putin, issued a statement supporting the multilateral trading system.

The declaration committed to maintaining and enhancing an open, transparent, fair, non-discriminatory, and multilateral trading system grounded in universally accepted international principles and rules to foster an open global economy.

PM Modi asserted, “The world has faith in India. The world believes in India. And the world is prepared to shape the future of semiconductors in India – this is the message conveyed by Semicon 2025,” he added.

Reiterating that India is moving beyond backend operations to become a full-stack semiconductor nation, PM Modi expressed confidence that the day is near when India’s smallest chip will catalyze the world’s most significant changes.

He stated, “Our journey began late… but nothing can halt our progress now.”

The Prime Minister revealed that CG Power’s pilot plant commenced operations on August 28, just a few days ago. He also mentioned that Kaynes' pilot plant is set to launch soon. Test chips from Micron and Tata are already in production, reaffirming that commercial chip production will start this year, highlighting the swift advancements India is making in the semiconductor industry.

Underlining that India's semiconductor success is not confined to a single vertical or technology, PM Modi emphasized that India is developing a comprehensive ecosystem encompassing design, manufacturing, packaging, and high-tech devices, all domestically.

He clarified that the Semiconductor Mission extends beyond establishing a single fab or producing one chip; rather, India is building a resilient semiconductor ecosystem geared towards self-reliance and global competitiveness, the Prime Minister noted.

PM Modi stated that India’s rapid growth is invigorating industries and energizing every citizen. He confirmed that this growth trajectory is swiftly steering India towards becoming the third-largest economy globally.

Highlighting the importance of speed in the semiconductor sector, PM Modi remarked, “The quicker the transition from file to factory, and the less paperwork involved, the sooner wafer work can commence.”

He emphasized that the government is adopting this very strategy. The National Single Window System has been implemented, allowing access to all approvals from both the Centre and states on a singular platform. Consequently, investors have been relieved from excessive paperwork, he further remarked.