Rising imports from China powering India's electronics production

Other countries such as Korea and Taiwan combined have seen their imports hit $4.5 billion in FY24 but they are still half of China and Hong Kong combined

The expansion of India’s electronics production is becoming increasingly dependent on imported components from China and Hong Kong, especially key products such as PCBs, micro assembly, semiconductor devices, LEDs, integrated circuits, and capacitors.

Despite India slamming the door shut on Chinese component companies in response to the border clashes with Chinese troops at Galwan in 2022, the decision has so far had no adverse impact: Chinese companies continue to supply components to meet the growing demand in India.
 

Imports to India reached $20.70 billion in FY24, a growth of over 28 per cent compared to the previous year.