On 15 August 2026, Prime Minister Narendra Modi delivered his Independence Day address, announcing a series of high‑impact targets for India’s economy. He called for 50 Indian companies to join the Fortune Global 500, an Indian bank and a pharma firm to rank among the world’s top five, and Indian consulting, accounting and technology firms to reach global leadership. The speech also set a 100 GW nuclear capacity goal by 2047, the launch of five new nuclear reactors, training one crore young Indians in AI, and the establishment of 5‑8 semiconductor plants in the next 7‑8 years.
FICCI’s Secretary‑General Anant Swarup praised the ambition, describing it as a decisive shift from India being a large market to becoming a global centre of enterprise, capital and knowledge. He said the targets would require decisive investment in innovation, technology, talent and governance, and that the government must provide predictable regulation, easier access to capital, competitive taxation, stronger infrastructure and trade agreements.
CII’s Director General Chandrajit Banerjee echoed the resolve, highlighting agriculture and food processing as key growth areas. He noted that free trade agreements could help Indian farm produce reach global markets and build brands around millets, spices, fruits and flowers. Banerjee also welcomed the focus on nuclear energy, semiconductors and green and blue economies as drivers of the next decade.
KEC International’s CEO Vimal Kejriwal said the speech reinforced India’s entry into a phase where scale, self‑reliance and technology converge. He pointed to the “Shakti ki Saptadhara” and GatiShakti initiatives, which he believes will boost manufacturing, logistics and economic activity. Kejriwal added that the semiconductor push and AI training plan could reshape India’s growth trajectory.
BMW Group India President Hardeep Singh Brar welcomed the vision of Viksit Bharat and the seven streams of strength. He said India is becoming a global hub for talent, innovation and new ideas, and that the company’s long‑term commitment to “Make in India” will benefit from the nation’s accelerated transformation.
ENTOD Pharmaceuticals’ CEO Nikkhil K. Masurkar stressed the need for technology, research and indigenous innovation. He urged India to move from being the “pharmacy of the world” to an “innovation laboratory” by creating more intellectual property, investing in R&D and developing globally competitive solutions.
Vantage Technologies co‑founder Nikita Kumawat welcomed the semiconductor push, arguing it could build a complete electronics ecosystem. She said the initiative would strengthen supply chains, attract investment, create high‑skill jobs and help India become a global electronics power hub.
Sterlite Tech’s Managing Director Ankit Agarwal expressed pride in scaling up manufacturing, noting the company will grow its optic fibre production for global supply.
Interarch Building Solutions’ MD Arvind Nanda highlighted that manufacturing remains the key to India’s growth and that technology and AI are essential for competitiveness.
Hindustan Copper’s Chairman Anupam Misra emphasized the importance of self‑reliance in critical minerals for AI, data centres, EVs and renewables, and called for an ecosystem to support mineral growth.
Together, these reactions underline the industry’s enthusiasm for Modi’s targets, which aim to transform India into a developed economy by 2047 through manufacturing, infrastructure, technology, innovation, skills, critical minerals and self‑reliance.