Prime Minister Narendra Modi has outlined a bold seven-part agenda to boost India’s self-reliance in energy, technology, and manufacturing, setting ambitious targets ahead of the 2047 milestone amid rising geopolitical and supply chain vulnerabilities.
Prime Minister Narendra Modi used his Independence Day address on Saturday to press for greater self-reliance in energy, semiconductors and critical minerals, warning that countries are increasingly vulnerable to the “weaponisation” of resources and even territory. Speaking from the Red Fort, Modi tied that argument to a broader push for faster reforms, saying India must move more quickly if it is to become a developed nation by 2047.
The speech centered on a familiar theme in Modi’s economic messaging: reducing dependence on imports and strengthening domestic capability. NDTV noted that this year’s address built on the same priorities he has stressed in earlier Independence Day speeches, including energy security, advanced technology and manufacturing. Modi again argued that global shocks have exposed the risks of relying too heavily on overseas supply chains.
Energy security took top billing. Modi said the modern economy, especially one built around chips, artificial intelligence and data centers, needs abundant and reliable power. He pointed to nuclear energy as a key part of that plan, saying India is targeting 100 gigawatts of nuclear power by 2047 and plans to start five new reactors this decade. He also said India has crossed an important milestone in fast breeder reactor technology, which he described as a step toward self-sufficiency in nuclear fuel.
The prime minister also highlighted offshore oil and gas exploration and said 99% of India’s coastline that was once treated as a no-go zone has now been opened for upstream activity. India imports more than 88% of its crude oil needs and about half its natural gas, making the search for new domestic reserves a strategic priority. His comments came against the backdrop of renewed concern about supply routes through the Strait of Hormuz, through which a large share of India’s oil, gas and LPG imports flowed before the recent regional conflict.
Semiconductors and critical minerals formed another major part of the address. Modi said chips are now essential across electronics, medical equipment and transport systems, and claimed that three semiconductor plants are already operating and exporting output. He added that five to eight more plants could begin work in the next seven to eight years. On critical minerals, he said India has launched a national mission and set targets to secure supplies needed by the technology sector.
Modi also returned to manufacturing, exports and the role of small businesses in India’s growth. He urged companies to aim for global scale and told micro, small and medium-sized enterprises to use the market access created by free-trade agreements. He said India’s manufacturing base must stretch from components to finished products and compete on cost, quality and scale, with “zero-defect precision manufacturing” as the standard.
The prime minister framed the next phase of growth as a seven-part agenda, which he called “Sapt Dhara”, covering manufacturing, agriculture and food production, technology and innovation, infrastructure and connectivity, defense, green and blue economy, and soft power. Reuters-style remarks from the speech suggested he sees the coming five to seven years as decisive, with reforms presented not as a political slogan but as an operating principle. Modi said the country should not settle for being a market for foreign companies, but should instead become a global center for innovation in artificial intelligence, quantum technology, space, robotics and data infrastructure.
He also set out ambitious corporate goals, saying India should aim for 50 companies in the Fortune 500, a top-five global bank, and major Indian firms in pharmaceuticals, law, consulting and accounting. The message was clear: economic sovereignty, technological depth and faster reform must move together if India is to meet the 2047 deadline he has set.
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