India's semiconductor chip imports rose 18.5% to Rs 1.71 lakh crore in FY24, Parliament informed. The government is promoting domestic production under the Semicon India program.
Photograph: Kind courtesy shakti.org.in
New Delhi, Dec 6 (PTI) The semiconductor imports in India rose 18.5 per cent 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 FY24.
Citing the Directorate General of Commercial Intelligence & Statistics (DGCIS) 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.
Home » Market News » Semiconductor Chip Imports Surge in FY24: India Aims for Self-Reliance
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2025 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback