PM Modi Highlights India’s 7.8% Growth, Rising Global Confidence At SEMICON India 2026
India’s GDP growth of 7.8 per cent in the current quarter, which is a reflection of the resilience of the Indian economy in the face of tougher conditions in the global economy, was highlighted by on Thursday.
Modi also highlighted that the Japanese credit rating agency recently upgraded India’s sovereign credit rating, citing another proof of confidence in the nation by the external world during his address at the inauguration of SEMICON India 2026.
Modi Highlights Economic Growth
Modi said India recorded 7.8 per cent growth in its latest quarterly GDP figures released in September. He noted that the growth came during what he described as a challenging period for the global economy.
The Prime Minister linked the economic performance with developments in international assessments of India’s economy, pointing to the recent sovereign rating upgrade by a Japanese credit rating agency.
According to Modi, the upgrade came after a gap of nearly three decades.
“On one hand, India’s economy is growing. On the other, the world’s trust in India is also increasing,” Modi said while addressing the gathering.
BRICS Summit Cited As Sign Of Global Trust
The Prime Minister also mentioned the recently held BRICS Summit, which India hosted, as another instance of international trust in India.
Modi said India hosted the summit successfully and the New Delhi Declaration was embraced by consensus among the countries participating in the summit.
He said that the historic passing of the declaration by an unanimous vote was a strong sign of confidence that India has garnered from the international community.
SEMICON India 2026
Modi made the remarks while inaugurating SEMICON India 2026, an event focused on the semiconductor industry and India’s ambitions in the global electronics and chip manufacturing ecosystem.
The Prime Minister’s comments placed the semiconductor sector within the broader context of India’s economic growth and expanding global engagement.
He emphasised that India’s economic performance and international partnerships are developing alongside one another, presenting the two trends as indicators of the country’s changing position in the global economy.