India entered semiconductor industry a bit late, but will soon start exporting: Shah

GWALIOR: Union Home Minister Amit Shah on Thursday said India’s entry into the semiconductor industry was “strong” though a bit late, but the country would soon be self-reliant in the sector and even start exporting.

Speaking at the Abhyudaya Madhya Pradesh Growth Summit here, he praised the BJP government in the state for the registration of 4.57 lakh MSMEs (Micro, Small and Medium Enterprises) in just one year.

Thanks to Madhya Pradesh’s geographical location and its fertile land, one can earn crores of rupees by investing even a small amount, he said.

“We have made a strong entry into the semiconductor industry, although a bit late. Very soon we will not only become self-reliant in the semiconductor sector, but also start exporting,” he said.

Shah inaugurated or performed groundbreaking ceremony for industrial projects worth Rs 2 lakh crore on this occasion to mark the 101st birth anniversary of former prime minister Atal Bihar Vajpayee.

“Atal ji was a great orator, sensitive poet, a leader dedicated to public welfare who remained ‘ajatashatru’ (person without enemies) in politics,” he said.

He also paid tributes to Pandit Madan Mohan Malviya on his birth anniversary, and to C Rajagopalachari on his death anniversary.

Chief Minister Mohan Yadav, Union Minister Jyotiraditya Scindia and Assembly Speaker Narendra Singh Tomar were among those present at the event.

Shah praised CM Yadav for organising regional investment conferences, saying that when a state develops with regional balance, both the public and investors benefit.

“When industries with regional characteristics develop, they are sustainable and successful. May this new idea be auspicious for Madhya Pradesh,” he said.

Referring to the Vibrant Gujarat investor summits, Shah said PM Narendra Modi, as Gujarat chief minister, started organising such events in a systematic and scientific way in the state capital.

“This attracted investment to the state. It was a very good initiative and was successful. But Mohan Yadav has started a new initiative: a regional investment conference for the state’s balanced development. This initiative will greatly benefit all the states in the future for their balanced development,” he said.

Madhya Pradesh’s greatest advantage is its location which reduces transportation costs, and this can be fully exploited if industries are established across the state, Shah said.

A multi-modal logistics park is being built in Indore to encourage companies from all over the country to establish warehouses and hubs there, he mentioned.

The BJP has shown Madhya Pradesh the path of development, he said, adding that it was earlier known as a “BIMARU” (economically ailing) state during the Congress government led by Digvijaya Singh.

Shivraj Singh Chouhan, as chief minister, strived to rid the state of the BIMARU tag, and “now Mohan Yadav is working to advance this with even more energy than Shivraj Singh,” said Shah.

The state once lagged behind in the electricity sector, but today it produces surplus power and has also surpassed the entire country in cleanliness benchmarks, the senior BJP leader said.

MP today has industries in agriculture, food processing, pharmaceuticals, IT, and many other sectors, and is also a leader in start-ups, he added.

“Nearly 50 percent of our start-ups are run by women and girls. Madhya Pradesh has set a record in India by registering 4.57 lakh new MSME units in just one year. It is also poised to become a hub for medium, small, and cottage industries. Now, startups and innovation will take it to new heights,” Shah said.

Infrastructure is being developed in the state for textile and tourism industries, and excellent work has been done to improve the `ease of doing business’, he noted.

Under PM Modi’s leadership, a strong foundation is being laid in many new areas which will make India a global leader, Shah said.

“Our foreign exchange reserves have crossed USD 700 billion… India has also made huge strides in digital transactions and fintech. In 2024-25, 46 per cent of global digital transactions took place in India,” he said.

“There is a saying in our Gujarat: ‘Ek par gaam, dusri par Ram’,” the Union minister said, adding, “Similarly, on one side there are digital transactions of the entire world, and on the other side the digital transactions of India alone.”

Meanwhile, officials said that projects worth more than Rs 2 lakh crore, for which Shah performed ground- breaking or inauguration, are in the industry, energy, new and renewable energy, tourism and health sectors, and will generate 1.93 lakh jobs.

As many as 25,000 beneficiaries and thousands of entrepreneurs and investors are participating in the Growth Summit, organised to mark Atal Bihari Vajpayee’s birth anniversary, they said.

Shah also inaugurated the Gwalior Fair and dedicated to the people renovation work at the Atal Museum in the city. (PTI)