Semiconductor Chip Imports Surge in FY24: India Aims for Self-Reliance
By Rediff Money Desk, New Delhi Dec 06, 2024 18:03
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.
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.
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.
Source: PTI
Read More On:
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.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.82 ( -0.64)
- 9042958
- Rajnish Wellness
- 1.69 ( -2.87)
- 7046956
- Mishtann Foods L
- 9.38 ( -3.00)
- 6038768
- Shree Securities
- 0.42 ( -6.67)
- 4885553
- Sawaca Business Mach
- 0.67 ( -1.47)
- 4598978
MORE NEWS
Rupee Recovers from All-Time Low, Gains 5 Paise...
The Indian rupee recovered slightly from its all-time low, gaining 5 paise to 84.83...
Dish TV Shareholders Reject Appointment of Ind...
Dish TV shareholders have rejected the proposal to appoint two independent directors,...
India Needs Investment in Roads, Ports, Energy:...
Veteran banker KV Kamath stresses the need for increased investment in roads, ports,...