Modi’s 2047 Vision: India Bets on Chips and Nuclear Power

Indian Prime Minister Narendra Modi used his Independence Day speech to unveil a bold roadmap for transforming India into a developed economy by 2047. His plan places heavy emphasis on self-reliance, with specific focus on semiconductor manufacturing, artificial intelligence (AI), and nuclear energy. Speaking on the national holiday, Modi framed these sectors as critical to India’s future growth. By boosting domestic production of computer chips and expanding nuclear power capacity, his government aims to reduce dependence on foreign imports and secure long-term energy stability. The Prime Minister’s remarks come at a time when global supply chains are shifting, and many countries are racing to secure their own advanced technology production. India’s push into AI and semiconductors is seen as a direct attempt to compete in these high-stakes industries. Analysts note that while the goals are ambitious, the success of this vision will depend on execution, investment, and regulatory reforms. The announcement sets a clear direction for policy, but the path to 2047 remains long and complex. For deeper insight into Modi’s speech and its implications, Bloomberg News Senior Reporter Dan Strumpf discussed the details on “Bloomberg This Weekend” with hosts Joe Mathieu and Carol Massar.