Modi Pitches $13.5 Billion Plan to Make India a Global Chip Hub

Indian Prime Minister Narendra Modi opened SEMICON India 2026 in New Delhi on September 17, 2026, pitching a $13.5 billion plan to make the country a trusted global hub for semiconductor manufacturing. Modi said India has entered the second phase of its semiconductor journey, and the event drew $12 billion in investment pledges. The government also denied foreign pressure behind changes to UPI merchant fees, saying the charges will help Indian UPI apps.