At the Economic Times World Leaders Forum, Prime Minister Narendra Modi laid out a vision for India’s next decade of growth, signaling a decisive shift from an import-driven economy to a global technology and innovation leader. Highlighting electric vehicles (EVs), semiconductors, space, and renewable energy, Modi emphasized that “India is ready to take the world by storm with its innovation and manufacturing capabilities.”
EV Exports: India Goes Global
One of the most eye-catching announcements was India’s plan to export electric vehicles to 100 countries, with a high-profile event scheduled for August 26. “I want to tell you about another achievement of India. India is now going to export electric vehicles to 100 countries of the world,” Modi said during his speech.
He framed EV exports as part of India’s broader strategy to integrate into the global clean mobility ecosystem. Highlighting the country’s growth in automotive exports, he noted that India’s annual exports have risen from ₹50,000 crore before 2014 to over ₹1.2 lakh crore today, including metro coaches, rail coaches, and locomotives. “India is no longer just a consumer market; it is becoming a supplier to the world,” Modi added.
Semiconductor Milestone: First Made-in-India Chip
Addressing a critical sector that India had missed decades ago, Modi declared: “By the end of this year, the first Made-in-India semiconductor chip will come to the market.” He emphasized that semiconductor factories are now coming up across India, and the country is actively preparing for next-generation 6G networks.
“We all know that semiconductor manufacturing could have started in India 50–60 years ago, but India missed that too. Today we have changed this situation,” Modi said, signaling a long-term vision for self-reliance in high-tech manufacturing.
Space Sector: From Catch-Up to Leadership
Modi also highlighted India’s achievements in the space sector, stating that in the last 11 years, India has completed over 60 space missions, compared with 42 missions between 1979 and 2014. He added that India has successfully demonstrated space docking capability and that preparations for the Gaganyaan human spaceflight mission are underway.
“A very big program related to this will be conducted on August 26. We are promoting private participation and supporting innovation through a ₹1,000 crore venture capital fund for space startups,” he said, reinforcing the government’s commitment to nurturing private-sector innovation.
Research, Patents, and Knowledge Economy
On the knowledge front, Modi pointed to India’s rapidly expanding research ecosystem. “R&D expenditure has more than doubled since 2014, patent filings have increased 17 times, and more than 6,000 higher education institutions now house R&D cells,” he said. The ‘One Nation, One Subscription’ initiative ensures students nationwide can access global research journals, democratizing knowledge and fueling innovation.
Renewable Energy & Self-Reliance
Modi also highlighted India’s progress in renewable energy and sustainability: “We have achieved 50% of installed power capacity from non-fossil sources, five years ahead of our 2030 target.” He connected this to India’s broader self-reliance agenda, citing milestones in agriculture exports (₹4 lakh crore), electronics exports (₹3.25 lakh crore), and domestic production of 400 crore COVID-19 vaccine doses, nearly half of global output.
Final Take: A Decade of Global Ambition
PM Modi’s speech underscored that India is no longer content to be a participant in global technology trends. With EV exports, semiconductor manufacturing, space missions, and renewable energy achievements, India is positioning itself as a major global technology exporter. “The world is watching India’s journey. Our startups, innovators, and manufacturers now have the opportunity to shape not only India’s future but the world’s,” Modi said, framing a decade of unprecedented opportunity for the country’s entrepreneurial and technological ecosystem.
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