The import of Electronic Integrated Circuits and Microassemblies to India has shown significant volatility over the years. From 2013 to 2023, imports fluctuated with years of both sharp declines and rapid growth. The most notable surges occurred in 2018, with a 224.81% increase, and in the subsequent years, the trend stabilized. For 2023, the import value stood at 8.0154 billion USD, reflecting a year-on-year increase of 5.54%. Over the past two years, the average year-on-year variation remained positive, reinforcing a stabilizing trend. The five-year CAGR for 2023 is 1.71%, indicating moderate growth. Forecasts predict continued growth, with a forecasted five-year CAGR of 3.79%, culminating in a 2028 value of 10.212 billion USD, a 20.46% growth from 2023.
Future trends to watch for:
- Advancements in semiconductor technology and increased demand from consumer electronics and automotive sectors.
- Geopolitical factors affecting trade policies and supply chains.
- Domestic semiconductor manufacturing initiatives and their potential to reduce import dependency.
- Economic and regulatory developments influencing import-export dynamics.
