# Modi sets targets for Indian banks, pharma and semiconductor plants

2026-08-15T04:45:36+00:00 | Governance | Indian Opinion Desk

Corroboration: 2 independent outlets

Prime Minister Narendra Modi said India has begun production at three semiconductor plants and expects another seven to eight facilities to become operational over the next seven to eight years, The Times of India reports. He was speaking from the Red Fort during his 80th Independence Day address. The government’s second semiconductor mission has an outlay of Rs 1.27 lakh crore, while 12 approved projects carry investment commitments exceeding Rs 1.64 lakh crore, the report said. Modi also set corporate targets for the coming decade. He said India should have 50 Fortune 500 companies, at least one bank among the world’s five largest and an Indian pharmaceutical company among the global top five. He listed manufacturing, agriculture, technology, defence, green and blue economy and soft power as development priorities.

## Coverage

- businesstoday.in <https://www.businesstoday.in/latest/corporate/story/independence-day-2026-at-least-one-indian-bank-should-pm-modis-ambitious-target-for-india-inc-ft-fortune-500-companies-549362-2026-08-15?utm_source=rssfeed>
- timesofindia.indiatimes.com <https://timesofindia.indiatimes.com/business/india-business/pm-modi-independence-day-speech-indias-big-semiconductor-push-pm-modi-says-5-8-plants-coming-up-in-few-years-stresses-self-reliance-in-chips/articleshow/133255271.cms>

Tags: Fortune 500, India, Narendra Modi, Red Fort
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