From semiconductors to energy self-sufficiency, PM Modi articulates Independent India’s Viksit dream; key announcements from his speech

In a strong push towards Atmanirbhar Bharat, Prime Minister Narendra Modi, in his 12th Independence Day address on Thursday, outlined a series of ambitious goals for the nation.

Speaking from the Red Fort on the couuntry's 79th Independence Day, he highlighted milestones ranging from India’s first semiconductor chip and indigenous jet engine development to a tenfold expansion of nuclear capacity and a ₹1 lakh crore youth employment drive.

Here are the key announcements PM Modi made during his speech:

GST reforms and task force

PM Modi revealed a Diwali gift for the country slightly early this year, while announcing the introduction of next-generation GST reforms in a bid to rationalise and simplify taxes on essential goods and services for the common man.

Additionally, he revealed that a dedicated Reform Task Force has been created to drive these next-generation reforms, to facilitate economic growth, prevent redtapism, and modernise governance.

Semiconductors and nuclear blackmail

PM Modi emphasised that the country need not worry about being the blackmailing on the nuclear power front that the country has received from neighbours such as Pakistan. He shared that 10 new nuclear reactors are underway to increase nuclear power generation capacity by tenfold in two decades.

Additionally, he shared that by the end of this year, the nation will roll out its first Made in India chip.

Energy self-reliance and building like UPI

He also pointed out that a large share of India’s Budget still goes towards importing petrol, diesel, and gas. He announced the launch of the National Deepwater Exploration Mission to tap ocean resources, alongside major expansions in solar, hydrogen, hydro, and nuclear power. Additionally, he asked the youth to collaborate and focus on innovation that makes India self-reliant, like vaccines did during the Covid-19 pandemic, and like UPI. He asked the youth to help India build its own jet engines.

On employment for the youth

The Prime Minister also unveiled another employment scheme, the PM Viksit Bharat Rozgar Yojana, worth ₹1 lakh crore, under which newly employed youth will receive ₹15,000. The scheme aims to benefit 3 crore young Indians.

He also launched the High-Powered Demography Mission to address the challenges of national security, particularly due to demographic imbalance caused by infiltration and illegal migration in border areas.

Commenting on the speech, Confederation of Indian Industry (CII) president Rajiv Memani said, "Today, as India celebrates its 79th Independence Day, CII commends the Prime Minister’s bold and forward-looking roadmap towards achieving Viksit Bharat by 2047, anchored in sustained reforms and a resilient Atmanirbhar philosophy. With emphasis on self-reliance, innovation, and citizen empowerment, the Prime Minister underscored India’s evolution from dependence on others to becoming a confident, technologically advanced, and economically robust nation."

"CII is committed to supporting this journey by fostering entrepreneurship, facilitating market linkages for MSMEs, and enabling the skills and infrastructure needed for a truly self-sustaining economy," said Chandrajit Banerjee, Director General, CII.

FICCI also welcomed PM Modi's address to the nation.

"We applaud the announcement of a comprehensive GST review after 8 years, which will reduce the tax burden on consumers and businesses and enhance Ease of Doing Business. The commitment to reduce compliances, eliminate redundant regulations & create a dedicated Reform Task Force will strengthen India's position as a global manufacturing hub. We endorse PM's vision of producing world-class quality products at competitive costs, and the industry assures its commitment in realising this goal," said Harsha Vardhan Agarwal, President, FICCI, in a statement.