Global FinDesk — On the occasion of India’s 79th Independence Day, Prime Minister Narendra Modi, delivering his 12th address from the Red Fort, outlined a bold vision to transform the nation by 2047 into a fully developed economy. His speech was packed with landmark initiatives spanning technology, energy, economic reforms, and national security.
From India’s first semiconductor chip to a tenfold expansion in nuclear power, Modi’s message was clear: India will set its own course and aim for accelerated, self-reliant growth.
Key Announcements from the Prime Minister’s Speech
1. Semiconductor Manufacturing on Mission Mode
PM Modi recalled past missed opportunities in semiconductor manufacturing but announced that by the end of 2025, India will produce its first Made in India chip. This marks a critical step toward technological independence.
2. Nuclear Energy Capacity to Grow Tenfold
As part of a long-term energy strategy, work is underway on 10 new nuclear reactors to boost India’s nuclear power generation capacity by over 10 times by 2047.
3. GST Reforms Coming This Diwali
Next-generation GST reforms will be rolled out during Diwali, aimed at lowering taxes on essential goods and easing the compliance burden on MSMEs, local traders, and consumers.
4. Reform Task Force for a $10 Trillion Economy
A new Reform Task Force will be established to fast-track policy modernization, remove bureaucratic hurdles, and position India for $10 trillion GDP status by 2047.
5. ₹1 Lakh Crore PM Viksit Bharat Rozgar Yojana
The government will launch a massive employment scheme worth ₹1 lakh crore. Under it, newly employed youth will receive ₹15,000 per month, targeting benefits for 3 crore young Indians.
6. High-Powered Demography Mission
Addressing concerns over demographic imbalances caused by infiltration and illegal migration in border regions, the PM announced a High-Powered Demography Mission to safeguard national unity and citizens’ rights.
7. Energy Independence Through Ocean Resources
Under the National Deepwater Exploration Mission, India will tap into ocean-based energy resources while expanding its solar, hydrogen, hydro, and nuclear power infrastructure.
8. Made in India Jet Engines Challenge
Drawing parallels to India’s COVID vaccine development and UPI innovation, Modi challenged scientists and engineers to design and manufacture indigenous jet engines for national defense and aviation needs.
With these measures, the Prime Minister underscored his government’s commitment to economic modernization, self-reliance, and national security — laying the foundation for Bharat@2047.