Semiconductor Chip Imports Rise 18.5% To Rs 1.71 Lakh Crore In Fiscal 2024
Over 14 billion chips were imported into the country at a valuation of Rs 1.297 lakh crore.
(Source: Unsplash)
The semiconductor imports in India rose 18.5% to Rs 1.71 lakh crore in 2023-24, Parliament was informed on Friday. According to data shared by the Minister of State for Electronics and IT Jitin Prasada, India imported 18.43 billion semiconductor chips in fiscal 2024.
Citing the Directorate General of Commercial Intelligence & Statistics portal, he said that in 2022-23, 14.64 billion chips were imported into the country at a valuation of Rs 1.297 lakh crore.
In 2021-22, the country imported 17.89 billion chipsets worth Rs 1.071 lakh crore, according to the data.
The Indian government has initiated programmes like the Semicon India to lessen reliance on imports by fostering domestic production and attracting foreign investments.
The Semicon India programme has an outlay of Rs 76,000 crore for the development of the semiconductor and display manufacturing ecosystem in the country.
