As of 2023, the import of parts of electronic integrated circuits to India was valued at $370 million. The projections indicate a steady increase, with values rising to $391.26 million in 2024, reaching $475.68 million by 2028. Year-on-year growth remains consistent, averaging around 5-6% per annum. The compound annual growth rate (CAGR) from 2024 to 2028 is anticipated to be approximately 5.1%.
Future trends to watch for in this market include:
- Technological advancements driving demand for more sophisticated components.
- Increased domestic production capabilities affecting import rates.
- Global supply chain disruptions potentially impacting import volumes.
