India’s 6.6% Growth Shows Economic Resilience in Tough Global Conditions: Amitabh Kant

He stated that the country should work on a mission mode in areas such as solar energy, wind energy, offshore wind, and concentrated solar power. It is also essential to increase storage capacity for the power and electric vehicle sectors.

Kant acknowledged that high crude oil prices are impacting India because the country imports large quantities of fossil fuels. However, he stated that the government has decided to absorb these shocks rather than passing the entire burden onto consumers. He expressed hope that once peace is restored and the war ends in West Asia, oil prices will decline, thereby easing inflationary pressures.

Amitabh Kant stated that India must become self-reliant in semiconductors, critical mineral processing, and clean energy technologies. He described the Semiconductor PLI scheme as one of the most transformative initiatives.

According to Kant, 12 companies in India are working on semiconductor manufacturing, which will prove crucial for the defense, automobile, and technology sectors. He stated that chip manufacturing will become a key pillar of the global economy in the future and is strategically important for India.

Kant believes that if global tensions ease and energy prices soften, India's growth rate could be further strengthened. He stated that in the long term, India must focus on becoming self-reliant in both energy and technology.