India's Chip Imports Surge By 92% In 3 Years
The latest data presented in the Rajya Sabha by the Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has revealed a staggering 92 per cent surge in India's semiconductor chip imports over the past three financial years.
According to the data presented by Chandrasekhar, total semiconductor chip imports catapulted from Rs 67,497 crore in 2020-21 to Rs 129,703 crore in 2022-23.
China also experienced an upward trajectory in its chip exports to India, though at a relatively lower rate of 53 per cent. Chinese semiconductor chip exports to India increased from Rs 24,604 crore to Rs 37,681 crore over the same period.
The Minister of State emphasised that these imports were exempt from basic customs duty due to India's status as a signatory to the Information Technology Agreement (ITA-1) of the World Trade Organisation. Under this agreement, most electronic components, including semiconductor integrated circuits (chips), enjoy tariff-free trade, facilitating India's engagement in the global electronics market.
Unveiling the specific details of the semiconductor chip imports, the data revealed that the "Monolithic integrated circuits – digital" category constituted the highest proportion of imports from both global and Chinese markets. This category accounted for a staggering Rs 82,283 crore worth of imports in 2022-23, with Chinese supplies contributing Rs 30,960 crore to the total.
Following closely behind was the "Memories" category, with total imports valued at Rs 22,845 crore in the same period. Out of this, Chinese imports accounted for Rs 2,589 crore.
Among other notable import categories, "Amplifiers" recorded a global import value of Rs 2,811 crore in 2022-23, with Chinese imports constituting Rs 639 crore of this amount.
