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Let's decode the Semiconductor Industry in India : High Import Reliance: • India depends heavily on other countries for semiconductors. • Major suppliers: China, Taiwan, South Korea, and the USA. • In 2023, India imported semiconductors worth over USD 20 billion. Main imports: • integrated circuits, microprocessors, and memory chips. Challenges: •COVID-19 showed weaknesses in supply chains. • Political tensions, especially with China. • Unskilled labour Growing Exporter : • India is slowly increasing its semiconductor exports. • Export value in 2023 was around USD 1 billion. • Main buyers: USA, Europe, and Southeast Asia. Growth Factors: • Government programs like the Production Linked Incentive (PLI) scheme. • Investments from big companies like Tata Group and Reliance Industries. Government Support: • The National Policy on Electronics (NPE) 2019 aims to make India a global electronics hub. • The Semiconductor Mission encourages local semiconductor industries.
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