Key Points

"My country's youth, today is 15th August, and on this very day, we are launching a scheme worth Rs 1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented," Prime Minister Modi announced, giving his 12th consecutive Independence Day speech from the ramparts of the iconic Red Fort.

The Employment Linked Incentive (ELI) PM VBRY will create 3.5 employment opportunities to the young people of the country in two years, from August 2025 to July 2027. The scheme also aims to include 1.92 crore first time workers, helping them get in the workforce.

"Under this scheme, young men and women getting their first job in the private sector will receive Rs 15,000 from the government. Companies that create more employment opportunities will also be given incentive amounts. The Pradhan Mantri Viksit Bharat Rojgar Yojana will create nearly 3.5 crore new employment opportunities for the youth," PM Modi added, and receiving loud applause from the young people who attended the Independence Day celebrations live at Red Fort.

PM Modi also announced that made-in-India semiconductor chips will be available in the market by the end of this year, marking a major milestone in India's technological journey.

"To the youth of the nation and to those around the world who understand India's technological strength, I want to say this: by the end of this very year, 'Made-in-India' chips will be available in the market," the Prime Minister declared, underlining the government's push to make India self-reliant in semiconductor manufacturing," he said.

Reflecting on the past, PM Modi said that the idea of semiconductor development in India had originated 50-60 years ago, but remained stuck in delays.

He added that India lost crucial decades due to the inactivity of the past governments, while other nations surged ahead and established dominance in the semiconductor sector.

"In our country, the files related to semiconductors were initiated 50-60 years ago. The idea of setting up a factory also began back then. My young friends, you'll be surprised to know that the concept of semiconductors--which has now become a global power--was stuck in files 50-60 years ago. The idea of semiconductors was practically aborted in its infancy. We lost 50-60 precious years. Meanwhile, several other countries have mastered semiconductors and are now establishing their dominance globally," PM Modi said.

He emphasised that the current government has broken away from that legacy and is moving forward in mission mode to develop a strong domestic semiconductor ecosystem.

The announcement comes at a time when India is seeking to position itself as a global hub for semiconductor manufacturing amid growing geopolitical shifts and supply chain realignments.

- ANI